Boston – On behalf of NorthBridge Partners, CBRE/New England’s Debt & Structured Finance team secured acquisition financing for 192 Mansfield Avenue, a ±347,500 square foot, Class A warehouse and distribution facility strategically located in Norton, Massachusetts.
CBRE/NE’s Kyle Juszczyszyn, Chris Coutts and Lenny Pierce arranged the financing in the amount of $19 million.
“We are pleased to have assisted NorthBridge Partners with the recent acquisition in Norton. We were able to secure very attractive financing terms and close within 35 days from a signed application. NorthBridge Partners moved quickly to close the financing and it was a great team effort,” stated CBRE/NE’s Coutts.
192 Mansfield Avenue is fully leased to Advance Auto Parts, Inc. (NYSE: AAP/S&P: BBB-/Stable), the largest automotive aftermarket parts provider in the world with over 5,200 stores, serving both professional installers and do-it-yourself customers. Advance Auto Parts has invested significant capital in the asset, including the installation of a high-density inventory management system, addition of a mezzanine, reconfiguration of warehouse areas and creation of a new office space.