BOSTON – Rockpoint, a Boston-based real estate private equity firm, announced the acquisition of Uxbridge Distribution Center, a high-quality industrial distribution facility located on a 70-acre site in Uxbridge, Massachusetts. Financial terms of the transaction were not disclosed.
Completed in 2023 and comprising more than 607,000 square feet, the cross-dock industrial distribution facility is ideally located in the Worcester submarket less than an hour from both Providence and Boston. The location provides convenient access to both of Massachusetts’ primary distribution corridors and the surrounding labor talent markets. The property benefits from highly functional physical attributes, including ample parking space, outdoor storage, and built-in flexibility to accommodate single- and multi-tenant configurations. Approximately 73 percent of the space is occupied with a long-term lease. The remaining vacant space is in shell condition and includes sought-after adjacent outdoor storage and a parking field.
Rockhill Management (“Rockhill”), Rockpoint’s dedicated property services affiliate, will provide property management services to the Uxbridge Distribution Center.
“As we grow our industrial portfolio, this newly constructed, high-quality property represents a compelling investment opportunity in a high barrier-to-entry market that we know well,” said Fred Borges, Senior Managing Director at Rockpoint. “Greater Boston has experienced consistent industrial rent growth, driven by strong demand for preeminent space and a range of factors limiting the production of new supply, including a limited number of suitable, well-located sites.”
“Uxbridge Distribution Center is well designed, with the flexibility to meet the needs of today’s industrial businesses and to accommodate a wide range of applications,” said Ben Harris, Head of Rockpoint Industrial. “The Rockpoint and Rockhill teams look forward to building value for this property and serving its tenants.”
The transaction underscores Rockpoint’s continued focus on high-quality industrial assets following its recent purchase of phase two of Gateway Logistics in the Tampa area and development of Race Track Logistics, a trophy industrial site in Pompano Beach, Florida. Rockpoint has made 13 industrial investments since 2020, representing more than 12 million square feet.
