Berkeley Partners Buys Three Greater Boston Industrial Properties Totaling for $43.3 Million

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431 Washington Street, Franklin, MA

BOSTON – The CBRE Boston Capital Markets team announced the sale of 417 South Street in Marlborough for $14,200,000, and 385 Myles Standish Boulevard in Taunton and 431 Washington Street in Franklin for $29,100,000.

CBRE’s Boston Capital Markets team includes Scott Dragos, Doug Jacoby, Chris Skeffington, Roy Sandeman, Anthony Hayes, Timothy Mulhall and Daniel Hines. For the sale of 417 South Street, CBRE’s Boston Capital Markets team represented the seller, Calare Properties, and procured the buyer, Berkeley Partners.

For the sale of 385 Myles Standish Boulevard and 431 Washington Street, CBRE’s Boston Capital Markets team represented the seller, GFI Partners, and procured the buyer, Berkeley Partners.

“We are extremely grateful for the opportunity to have represented Calare Properties on the sale of 417 South Street,” stated CBRE’s Sandeman. “After purchasing the asset vacant in 2011, Calare has successfully executed its business plan through the lease-up and disposition, and we are thrilled to have played our part in that process. The team at Calare, once again, was an absolute pleasure to work with.”

“We are delighted to have represented GFI Partners on the successful sale of 431 Washington Street and 385 Myles Standish Boulevard,” stated CBRE’s Jacoby. “The GFI Partners team was a pleasure to work with throughout the entire process.”

“With these acquisitions, Berkeley Partners has added three first class, cash-flowing industrial properties to its already diversified and growing portfolio,” stated CBRE’s Dragos. “In both transactions, Berkeley executed flawlessly.”

“We are very pleased to have completed these acquisitions,” said Andrew Holmberg of Berkeley Partners. “In a short time frame, we have expanded our Boston portfolio to nearly 1.0 million square feet. CBRE’s Boston team made these transactions seamless, and we look forward to doing more with them as we continue to build our Northeast portfolio.”

417 South Street in Marlborough is a 145,600-square-foot, first class warehouse/flex building that is 87% leased to seven tenants. Constructed in 2012, the property offers ±20’ clear height, ample loading/parking and expansion potential. The building is conveniently located within three miles of Interstates 495, 290 and 90, allowing access to amenities in the surrounding area as well as proximity to Boston and Providence.

385 Myles Standish Boulevard in Taunton is a ±139,500-square-foot, first class warehouse/flex building that is fully leased to Verizon New England, Inc. The building boasts a 28’ clear height and has been home to Verizon for over 24 years, serving as a mission-critical call center, customer support center and security monitoring facility. 385 Myles Standish Boulevard is in the well-established Myles Standish Industrial Park—an 809-acre industrial park located in Taunton, Massachusetts. Myles Standish Industrial Park houses over 100 companies with 7,400 employees and provides easy access to Interstate 495, Interstate 95 and Route 24.

431 Washington Street in Franklin is a ±242,252-square-foot building that consists of a ±65,000-square-foot high-bay warehouse space fully leased to Champagne Logistics and a ±177,252-square-foot flex space fully leased to Marsh USA, Inc. 431 Washington Street is proximate to both Forge and Franklin Industrial Parks, enabling the property to benefit from strong corporate tenancy and as well as accessibility via Interstates 495 and 95.