June 1, 2022 1:30 PM
Newmark announces the sale of the RSF Industrial Portfolio, which comprises five distribution/logistics facilities located across suburban Boston, Massachusetts. Newmark Co-Head of U.S. Capital Markets Robert Griffin, Executive Vice Chairman Edward Maher, Vice Chairman Matthew Pullen, Executive Managing Director Tony Coskren, Senior Managing Director Brian Pinch, Managing Director Samantha Hallowell and Associate Allie Percoco of the firm’s Boston Capital Markets Group represented the seller, Wheelock Street Capital and The Seyon Group, and procured the buyer, Ares Management real estate funds. Newmark Executive Managing Directors Ed Jarosz and Rick Schuhwerk provided leasing expertise and Senior Financial Analyst Nickolas Revers provided financial analysis support.
Totaling 295,602 square feet, the RSF Industrial Portfolio encompasses 109-129, 116-120 and 128-140 York Avenue in Randolph, 180 Campanelli Parkway in Stoughton and 65 Green Street in Foxborough. The buildings are presently 75% leased to nine tenants.
“The RSF Industrial Portfolio’s assets are strategically situated along the Route 128/Interstate 95 corridor near its junctions with Route 24 and Interstate 495,” said Coskren. “These urban infill-type locations are well-positioned to attract industrial tenants—and particularly last-mile logistics users—that are being pushed out of the urban core.”
The RSF Industrial Portfolio further benefits from highly-functional and flexible building infrastructure that enable its assets to accommodate a variety of requirements for tenants across multiple sectors. Highlights include demising potential, excess loading capacity and clear heights of up to 23 feet.
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, visitnmrk.com or follow @newmark.
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