WORCESTER, MA–Two class-A warehouses in The Crossroads Industrial Park at 495 on the Marlborough-Northborough border were recently sold for a combined $78.9 million, reported Worcester Business Journal (WBJ).
Quoting Worcester District Registry of Deeds, WBJ said that both properties were sold by affiliates of TA Realty of Boston and developed by former owner The Gutierrez Co. of Burlington, MA.
The buyers were affiliates of LBA Logistics of Irvine, Calif., an investment firm focused on the ownership and operation of industrial buildings, WBJ reported.
Hayes G, LLC, an affiliate of TA Realty of Boston, sold 150 Hayes Memorial Drive in Marlborough and Northborough for $31,350,000, the WBJ report said.
The 167,000 square-foot facility was completed in 2020. The facility is leased in part to tire distributor Max Finkelstein.The buyer was LBA or Core-Company XXIII, LLC. TA Realty acquired the development site in 2019 for $1.3 million, WBJ said.
“TA Realty affiliate 301 Bartlett Street, LLC sold a 220,100 square-foot facility at 301 Bartlett St. for $47.5 million. The buyer was LBA NCC-Company XXXIII, LLC. TA Realty acquired the development site in 2018 for $2.2 million. The property is leased to multiple tenants including molding manufacturer Metrie and Lowes Pro Supply,” WBJ said.
The Crossroads Industrial Park is a 2-million square-foot logistics park. The Gutierrez Co. developed multiple large distribution centers at the site, according to WBJ.