BOSTON– As the Industrial market continues to heat up across Massachusetts, CBRE/New England announced the expansion of its Industrial Advisory & Transaction Services team to allow for more coverage, communication and collaboration.
Following the move of a large group of top commercial real estate professionals, led by Steve Purpura, joining CBRE/NE from Transwestern back in February 2018, the Industrial team was a key growth area to meet market demand. 2017 ended with nearly 3 MSF of positive absorption in the Greater Boston area.
The expanded CBRE/NE Industrial team now includes Executive Vice President/Partner Robert Gibson, Vice Chairman John Lashar, Executive Vice President Steve Clancy, Executive Vice President/Partner Mark Reardon, First Vice President David Corkery, Vice President Rachel Marks, Vice President Jake Borden, Vice President Danielle Simbliaris, Senior Associate Doug Rodenstein and Senior Associate Ben Roopenian. This leasing team will work closely alongside the Capital Markets team members including Executive Vice President/Partner David Pergola Jr., Senior Vice President/Partner Brian Doherty and Senior Vice President Chris Skeffington.
“The demand for industrial properties across Massachusetts is reaching historic highs,” said CBRE/NE President and Co-Managing Partner Andy Hoar. “With the team’s seasoned expertise covering all corners of the region, we can more strategically guide our clients as one expansive and synergetic team.”
The newly unified team has been behind some of Massachusetts’ latest industrial deals. CBRE/NE worked on behalf of both ownership and McKesson for the pharmaceutical distribution company to expand into the entire ±261,000 SF building at 55 Lyman Street in Northborough. CBRE/NE’s John Lashar represented the landlord, an entity of New York Life Insurance Company, and CBRE/NE’s Bob Gibson represented McKesson in the deal.
Additionally, a renewal has been inked for HD Supply to renew its lease in 152,290 SF at 100 Meadow Road in Hyde Park. The newly combined CBRE/NE Industrial team represented the landlord, National Development (in conjunction with AEW, who subsequently purchased the property). The tenant, HD Supply, was represented by Colliers International.
Also, in late June 2018, a Class A, 150,000 SF warehouse/industrial facility was sold for $9.9 million to real estate investor/developer National Development at 61 Leona Drive in Middleborough. Both the buyer and the seller, Serta Mattress, were represented by CBRE/NE. The facility features high-bay ceilings, first class office space, generous bay spacing and ample loading docks.