Taunton, MA– CBRE announced that it has represented Invesco Real Estate, a global real estate investment manager, in the sale of a 181,900 sq. ft. industrial facility located at 530 John Hancock Road in Taunton, Massachusetts. The Davis Companies acquired the asset for $28.6 million.
The CBRE team comprised of Chris Skeffington, Scott Dragos, Doug Jacoby, Roy Sandeman, Tim Mulhall, Daniel Hines and Tony Hayes represented Invesco Real Estate in the marketing and sale negotiations.
“It was a pleasure working on behalf of Invesco Real Estate on this successful transaction, and we are truly proud of the outcome,” said Executive Vice President Chris Skeffington. “Interest in the property was high and The Davis Companies should be thrilled to incorporate such a highly functional, Class A, industrial asset into their expanding portfolio.”
“We would like to commend CBRE’s industrial team on a seamless transaction for all parties involved,” said Quentin Reynolds, Chief Investment Officer at The Davis Companies. “We look forward to working with CBRE in the future as we continue to identify sites that would further enhance our industrial portfolio.”
Built in 2002, 530 John Hancock Road is 100 percent occupied by DHL Supply Chain, the third largest logistics company in North America. The facility sits on 11.33-acres and offers 32’ clear heights, two-sided loading that allows for multi-tenant functionality, ESFR sprinkler system, and generous truck courts that provide for excess trailer storage.
The property is strategically located within the master-planned Myles Standish Industrial Park, a vibrant 810-acre industrial complex that is home to a wide array of prominent tenants such as Verizon, Americold, Williams Sonoma, LKQ, Reinhart, Pepsi and Ryder, among others.