Boston, MA – A joint venture of Lincoln Property Company and Cara Real Estate GmbH
has acquired 125 Fisher Street in Westborough, MA for $20,575,000.
The 198,000-square-foot light manufacturing facility sits on 25 acres of land with potential for expansion and additional development.
Currently the majority of the building is leased to two tenants, NEO Tech and Columbia Tech. Located in 495 West market, the property is in close proximity to national and regional tenants such as Amazon Robotics, Wayfair, Maines Paper & Food, Sanofi, GE Healthcare, WESCO and Coca-Cola Bottling Co.
“We are pleased to have closed on LPC’s fourth joint venture with Cara Investment, the first in the Greater Boston market,” said Scott Faber, Senior Vice President at LPC. “125 Fisher Street is an excellent addition to the approximate one million square feet of industrial space under LPC’s ownership in the Boston area.”
While other sectors have dealt with varying levels of disruption throughout the coronavirus pandemic, industrial has only strengthened. The growth of e-commerce sales and the life sciences industry will continue to drive the performance of the Boston Industrial Market over the near term. Occupancies and rents remain near record highs with converging demand from warehouse/distribution, light manufacturing, R&D, and biomanufacturing tenants for like product.
“We are delighted to add 125 Fisher Street to our tactical portfolio and expand our successful partnership with Lincoln Property Company to the Greater Boston Area,” underlined Klaus Schupp, Managing Director for Cara. “Being our first
acquisition in the industrial sector in the U. S., this seed investment will be followed by others soon.”
