May 12, 2022 9:00 AM
Newmark announces the sale of Bellingham Distribution Center, a Class A industrial asset located in the suburban Boston community of Bellingham, Massachusetts. Newmark Co-Head of U.S. Capital Markets Robert Griffin, Vice Chairman Edward Maher, Executive Managing Directors Matthew Pullen and Tony Coskren, Senior Managing Director Brian Pinch and Managing Director Samantha Hallowell of the firm’s Boston Capital Markets Group represented the seller, Barings, and procured the buyer, LaSalle Property Fund. Newmark Senior Financial Analyst Nickolas Revers provided financial analysis support.
Totaling 345,000 square feet and completed in 2021, Bellingham Distribution Center features a full-building lease to TriMark. The tenant is the largest distributor of equipment, supplies and design services for the food service industry across the United States.
“Bellingham Distribution Center is a state-of-the-art, high-bay warehouse/distribution asset,” said Hallowell. “It will serve as an excellent regional flagship for TriMark, which is headquartered less than 20 miles away in Mansfield.”
With an address of 160 Mechanic Street, Bellingham Distribution Center features tilt-up construction, 36’ clear heights, 70 loading docks and 50 trailer storage spaces. The asset is located in an established industrial cluster off Interstate 495 with swift access to Interstates 90 and 95.
Newmark Group, Inc. (Nasdaq: NMRK), together with its subsidiaries (“Newmark”), is a world leader in commercial real estate, seamlessly powering every phase of the property life cycle. Newmark’s comprehensive suite of services and products is uniquely tailored to each client, from owners to occupiers, investors to founders, and startups to blue-chip companies. Combining the platform’s global reach with market intelligence in both established and emerging property markets, Newmark provides superior service to clients across the industry spectrum. Newmark generated revenues of nearly $3.1 billion for the twelve months ending March 31, 2022. Newmark’s company-owned offices, together with its business partners, operate from approximately 170 offices with 6,300 professionals around the world. To learn more, visit nmrk.com or follow @newmark.
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