Boston, MA — Newmark announced the $52 million sale of 125 Goddard Memorial Drive, a “last-mile” distribution facility located in Worcester, Massachusetts, for $52 million.
Newmark Co-Head of U.S. Capital Markets Robert Griffin, Vice Chairman Edward Maher, Executive Managing Directors Matthew Pullen and Tony Coskren and Managing Directors Samantha Hallowell and Brian Pinch of the firm’s Boston Capital Markets Group represented the seller, RJ Kelly, and procured the buyer, Tritower Financial Group. Newmark Vice Chairman J.R. McDonald provided leasing expertise.
Totaling 176,000 square feet, 125 Goddard Memorial Drive was fully redeveloped in 2020 and 2021 with extensive building, loading, system and site improvements.
“RJ Kelly’s redevelopment of 125 Goddard Memorial Drive created a first-class, ‘like-new’ asset,” said Pullen. “This enabled it to secure a full-building lease with a major e-commerce company.”
125 Goddard Memorial Drive is located just south of the Worcester Regional Airport and less than four miles from Interstate 290, providing the asset with seamless regional connectivity.