BOSTON – CBRE announced the sale of 734 Forest Street in Marlborough and 35 Dunham Road in Billerica, MA, for $14,550,000.
CBRE’s Boston Capital Markets team represented the seller, The RAM Companies, USA, and procured the buyer, Berkeley Partners. CBRE’s Boston Capital Markets team includes Scott Dragos, Doug Jacoby, Chris Skeffington, Roy Sandeman, Anthony Hayes, Timothy Mulhall and Daniel Hines.
Additionally, CBRE’s Debt & Equity team secured debt financing for the buyer, Berkeley Partners. The team includes Heather Brown, Kyle Juszczyszyn, Andrew Stone and Rob Borden.
“We are delighted to have represented The RAM Companies on the successful sale of 35 Dunham Street and 734 Forest Street,” stated CBRE’s Jacoby. “Both The RAM Companies and Berkeley Partners were a pleasure to work with and executed flawlessly. The RAM Companies acquired the assets a few years ago with significant vacancy. They rolled their sleeves up and added significant value. Berkeley Partners was pleased to acquire these well-maintained and well-leased assets.”
Totaling 120,796 square feet of flex-industrial space, the two-building portfolio is 100% leased and offers a diverse mix of 10 tenants. The two buildings comprising the portfolio are both one-story multi-tenant assets built in 1984 and 1987 and are impeccably maintained. Located within the Metro West and Metro North suburban Boston industrial markets, 734 Forest Street and 35 Dunham Road are situated along Greater Boston’s major highways, and the portfolio is clearly well-positioned to take advantage of its premier location.