Newmark has successfully completed the sale of 19 Leona Drive and 139 Campanelli Drive in Middleborough, Massachusetts to NorthBridge Partners. On behalf of Artemis Real Estate Partners and Calare Properties, Vice Chairman Edward Maher, Executive Managing Director Matthew Pullen, Director James Tribble and Associate 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 of the two Class A warehouse/distribution assets in conjunction with Executive Managing Directors Ed Jarosz, Rick Schuhwerk and Tony Coskren and Managing Director Brian Pinch.
19 Leona Drive serves as the corporate headquarters and primary northeast distribution center for Sager Electronics, an electronic components distributor. 139 Campanelli Drive serves as a distribution center for Stop & Shop, a dominant regional grocer with more than 400 stores across New England, New York and New Jersey.
“19 Leona Drive and 139 Campanelli Drive benefit from strong credit tenancy and feature attractive upside via expansion potential,” said Pullen. “Furthermore, they enjoy an exceptional distribution location just off Interstate 495.”
19 Leona Drive and 139 Campanelli Drive are located within the Campanelli Business Park of Middleboro, a 220-acre, 1.5 million-square-foot industrial campus. By virtue of their positioning immediately off Interstate 495 and moments from the intersection of Routes 18, 28 and 44, the assets facilitate seamless access to key 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. Newmark Group is a publicly traded subsidiary of BGC Partners, Inc. (“BGC”) (NASDAQ: BGCP), a leading global brokerage company servicing the financial and real estate markets.
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