BOSTON — Prescott IOS has arranged a rare industrial outdoor storage (IOS) lease for Eastern Bus Company at 151 Rivermoor Street in West Roxbury, providing the bus operator with secured yard space within Boston’s urban core.
The transaction comes as Eastern Bus was being displaced from its previous yard in Newton by a multifamily redevelopment and needed to find a replacement site that would allow it to remain within reach of the routes it serves across Boston and the inner suburbs.
David Skinner and Devon Wagner of Prescott IOS represented Eastern Bus in the transaction. Caroline Munn and Rob Byrne of CBRE represented the landlord, Feeney Brothers Real Estate.
The West Roxbury property gives Eastern Bus secured yard space close to its existing service area, allowing the company to maintain continuity of operations without interrupting its routes.
The transaction also highlights the growing challenge of finding industrial outdoor storage space in Greater Boston. IOS properties provide open, secured areas used by businesses for vehicle storage, equipment, materials and other operational needs. Such sites are increasingly difficult to secure as industrial parcels are redeveloped for higher-density uses.
In Boston’s urban core, the availability of large outdoor storage yards is particularly limited. The conversion of industrial properties to multifamily housing and other uses has steadily reduced the supply of sites suitable for companies that require substantial outdoor space.
For Eastern Bus, the situation created a difficult relocation challenge. The company needed a new yard after losing its Newton location, but moving too far from its established routes could have affected its operations.
Prescott IOS said its experience in the specialized outdoor storage market allowed the brokerage to approach the ownership of the Rivermoor Street property directly and work with CBRE to structure a transaction that addressed both the tenant’s operational requirements and the landlord’s plans for the property.
The deal comes against a backdrop of softer industrial leasing activity, but Prescott said the limited availability of IOS properties has continued to create a distinct market for well-located yards.
For Eastern Bus, the result was a secured yard inside Boston that allows the growing operator to continue serving its existing routes without a gap in service.
The transaction further establishes Prescott IOS as a specialist in the increasingly competitive Industrial Outdoor Storage market across Greater Boston and New England.
Prescott IOS is a commercial real estate brokerage specializing in the sale and leasing of industrial properties, with a particular focus on Industrial Outdoor Storage. The firm works with property owners evaluating sales or leasing opportunities as well as businesses seeking specialized industrial properties that can be difficult to find in the region.
