June 1, 2021 12:00 PM
Newmark announces the sale of 26 Southbridge Street, a Class A warehouse/distribution asset that is fully occupied by Polar Beverages and located in Auburn, Massachusetts. Newmark Co-Head of U.S. Capital Markets Robert Griffin, Vice Chairman Edward Maher, Executive Managing Directors Tony Coskren and Matthew Pullen and Managing Directors Samantha Hallowell and Brian Pinch of the firm’s Boston Capital Markets Group represented the seller and procured the buyer, Westbrook Partners.
Encompassing 285,437 square feet, 26 Southbridge Street is utilized by Polar Beverages as a local, national and international distribution center. The asset is positioned less than one-half mile from Polar Beverages’ corporate headquarters in Worcester, where the firm has been based since its inception in 1882.
“In addition to its ‘sticky’ tenancy, 26 Southbridge Street represents a highly-functional distribution/warehouse asset,” said Pullen. “The property’s most notable features include its generous clear height, column spacing, truck court width, loading capacity and parking capacity.”
26 Southbridge Street is situated directly off Interstate 290 and less than 10 minutes from Interstates 90 (Massachusetts Turnpike), 190 and 395.
Newmark Group, Inc. (Nasdaq: NMRK), together with its subsidiaries (“Newmark”), is a world leader in commercial real estate services, with a comprehensive suite of investor/owner and occupier services and products. Our integrated platform seamlessly powers every phase of owning or occupying a property. Our services are tailored to every type of client, from owners to occupiers, investors to founders, growing startups to leading companies. Harnessing the power of data, technology, and industry expertise, we bring ingenuity to every exchange, and imagination to every space. Together with London-based partner Knight Frank and independently owned offices, our 18,800 professionals operate from approximately 500 offices around the world, delivering a global perspective and a nimble approach. In 2020, Newmark generated revenues in excess of $1.9 billion. To learn more, visit nmrk.com or follow @newmark.
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