BOSTON–On behalf of the partnership between leading real estate investment management firms Oliver Street Capital and AEW Capital Management, JLL announced today the purchase of 25 Industrial Way in Wilmington, MA for $14.85 million. The property consists of 120,000 square- foot warehouse/distribution center on 5.76 acres.
JLL Managing Director Christopher Decembrele represented the buyers in the transaction, while the building owners Crystal Motors represented themselves.
“Assets of this quality and location are scarce and we’re excited to add it to our portfolio” said Jon Hyde, Managing Principal at Oliver Street Capital.
“This property offers the perfect location for industrial users looking for convenient access to urban and suburban markets,” said JLL’s Christopher Decembrele. “It’s a great addition to both Oliver Street and AEW’s industrial offerings and perfectly aligns with their investment needs.”
Oliver Street Capital is a value based real estate investment manager focused on acquiring and managing high quality industrial real estate investments. With 30 years of commercial real estate experience, the firm has represented over $1.8 billion in total transactions.
With over 35 years of real estate experience, AEW Capital Management has led the way in creating and executing real estate investment strategies on behalf of the world’s foremost institutional investors. As one of the largest real estate investment managers in the world, the firm has over 400 clients with $76 billion in assets under management across all property types in North America, Europe and Asia Pacific.