BOSTON – On behalf of Clarion Partners, JLL’s Capital Markets experts announced the sale of 400 Manley Street, a 215,000-square-foot industrial facility in Greater Boston’s Route 24 corridor. Recognizing the increasing value of well-located distribution warehouses, a private investment group purchased the property for $13,100,000.
According to JLL Managing Director Frank Petz, “400 Manley offered investors an increasingly rare opportunity to purchase a quality, high-bay warehouse within 20 minutes of Boston. Although the property will be occupied for the next several years, e-commerce trends have brought newfound tenant demand to Boston, and 400 Manley will be positioned to capture this demand for years to come. With its great physical attributes and highway accessibility, companies looking for well-located distribution space will undoubtedly be attracted to this property in the future.”
Managing Directors Frank Petz and Jessica Hughes, and Associate George Gregory led the JLL team on the transaction.