Newmark announced today the successful completion of the $33.6 million sale of 12 Industrial Road in Milford, Massachusetts to Cabot Properties. On behalf of Colony Capital, Vice Chairman Edward Maher, Executive Managing Directors Matthew Pullen and James Tribble and Director Samantha Hallowell of Newmark’s Boston Capital Markets team - which is led by Co-Head of U.S. Capital Markets Robert Griffin - oversaw the transaction in conjunction with Newmark Executive Managing Directors Ed Jarosz, Rick Schuhwerk, Anthony Coskren and J.R. McDonald and Managing Director Brian Pinch.
Totaling 327,237 square feet, 12 Industrial Road is presently 94 percent leased to e-commerce giant Amazon (NASDAQ: AMZN), global networking/security/utility distributor Anixter (NYSE: AXE) and Massachusetts-based company Green Mattress.
“12 Industrial Road is a highly functional, mission-critical facility,” said Pullen. “The asset benefits from the ‘e-commerce effect,’ in which a supply chain shift toward same-day deliveries is driving demand for ‘last-mile’ logistics facilities near major population centers.”
12 Industrial Road is well positioned between the key city centers of Boston (40 miles away) and Providence (35 miles away). Located within an established business hub at the intersection of Interstate 495 and Route 109, the asset enjoys convenient access to a variety of local and regional distribution corridors.
Newmark (“Newmark”), operated by Newmark Group, Inc. (“Newmark Group”) (NASDAQ: NMRK), is one of the world’s leading and most trusted commercial real estate advisory firms, offering a complete suite of services and products for both owners and occupiers. Together with London-based partner Knight Frank and independently-owned offices, Newmark’s 16,000 professionals operate from approximately 430 offices on six continents. Newmark’s investor/owner services and products include investment sales, agency leasing, property management, valuation and advisory, diligence, underwriting, government-sponsored enterprise lending, loan servicing, debt and structured finance and loan sales. Occupier services and products include tenant representation, real estate management technology systems, workplace and occupancy strategy, global corporate services consulting, project management, lease administration and facilities management. For further information, visit www.ngkf.com.
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