BOSTON– JLL Capital Markets announced the sale of 151 Charles F. Colton Road, a 198,720-square-foot, Class A distribution center in Taunton, Massachusetts.
JLL worked on behalf of the seller, a fund managed by Brookfield Asset Management. An Ares Management Real Estate fund acquired the asset, and the property will be managed by Ares Industrial Management.
Built in 2014, the state-of-the-art facility features 28-foot clear heights, 30 loading docks, 23 trailer parking spaces and ESFR fire protection. The facility is 100% leased to a leading tire and automotive service company in New England.
Located just 40 miles from Boston, the property benefits from its position in one of the most densely populated regions in the U.S., with access to over 5 million people within a 40-mile radius. Additionally, the property sits on 15 acres within Myles Standish Industrial Park, Massachusetts’ largest master-planned industrial park, offering easy access to major transportation routes including I-495, I-95, Route 24 and Route 44.
The JLL Investment Sales and Advisory team was led by Managing Director Michael Restivo and Director David Coffman.
“This sale represented a rare opportunity to acquire a modern, Class A distribution facility in the thriving Greater Boston industrial market,” Restivo said. “With its strategic location, high-quality tenant and strong rent growth potential, 151 Charles F. Colton Road offers stable cash flow and attractive long-term investment fundamentals in a supply-constrained market.”
