Kraft Heinz Sells 107-Acre Boston-Area Industrial Property
- Mar 12, 2018
Leggat McCall Properties has purchased Montvale Hill, a 107-acre industrial asset in Woburn, Mass., from Kraft Heinz. Newmark Knight Frank and Cushman & Wakefield brokered the sale of the Boston-area industrial development on behalf of the seller.
The largest part of the property is situated in Woburn,while some tracts of the land are located in the neighboring towns of Winchester and Stoneham. Interstate 93 borders the eastern end of the site, providing easy access and good visibility. Mishawum and Woburn Anderson train stations are in close proximity, and the nearby Woburn and Burlington malls offer various retail and entertainment options.
Executive Managing Director Torin Taylor and Managing Director Justin Smith of the NKF Capital Markets Boston office facilitated the transaction, together with Executive Vice President Christopher Porter of Cushman & Wakefield.
“Montvale Hill is situated within a strong trade area featuring major employers such as Keurig, Nokia, Oracle and Raytheon,” said Taylor, in prepared remarks. “(The property) is one of the only sites inside of Route 128 which can accommodate users from 300,000 to 700,000 square feet and is well positioned for lab, advanced manufacturing or office use.”
Image courtesy of NKF Capital Markets