Boston— CBRE announced it has arranged the sale of the Southeast MA Industrial Portfolio comprising of eight buildings totaling 1,277,045 sq. ft. Arden Logistics Parks acquired the assets for a sale price of $160 million. The CBRE team of Scott Dragos, Chris Skeffington, Doug Jacoby, Anthony Hayes, Tim Mulhall, Roy Sandeman and Dan Hines spearheaded the marketing campaign and arranged the sale on behalf of the seller, Westbrook Partners. The portfolio’s geographic locations across Southeast Massachusetts offered regional connectivity and immediate proximity to the growing population base in Boston as well as the broader New England region. At the time of sale, the portfolio was 97.2% leased to a diverse mix of 23 tenants, including Nestle, T-Mobile, Displays2Go, and Whirlpool, among others. “The Southeast MA Industrial Portfolio represented a unique opportunity for Arden Logistics Parks to acquire a critical mass of industrial assets that combined stabilized cash flow with the ability to capitalize on the mark-to-market of rents in one of the highest growth industrial markets in the country,” noted Sandeman. “Driven by the unique supply/demand imbalance, Greater Boston continues to be one of the hottest industrial markets in the country, and we look forward to watching Arden Logistics Parks capitalize on the continued record rent growth in our market,” added Dragos.The portfolio is located at 60 Maple Street, Mansfield, MA; 81 Commerce Drive, Fall River, MA; 55 Samuel Barnet Boulevard, New Bedford, MA; 45 Vineyard Road, Seekonk, MA; 20 Townsend Road, Attleboro, MA; and 10, 15 & 50 Commerce Drive, Norton, MA.
