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Boston & New England  + Metro Boston  + Industrial  |  December 10, 2021
125 Waters Street industrial building in Danvers, MA
Lisa McDuffie
By: Lisa McDuffie

Avison Young Brokers $37M Sale of Industrial Portfolio in Metro Boston

Avison Young’s Boston office has arranged the sale of a two-building, 205,324 square-foot industrial portfolio in the Boston area for $37.25 million. The properties on Beaver Street in Franklin and on Water Street in Danvers are each 100% leased.

Avison Young’s Scott Jamieson and Brandon Dickason represented the seller, Arris Partners, LLC, in addition to procuring the buyer, Black Creek Group.

“The sale process for the portfolio was highly competitive given the strong demand in the region for well-located industrial properties,” said Dickason. “The buyer recognized the long-term cash flow and upside that the portfolio presented being 100% leased to a diverse roster of quality triple-net tenants at below-market rents.”

 “Investors were attracted to the geographically diverse positioning of the properties and the stable cash flow from the current in-place leases, which have staggered expirations extending to 2040,” added John Garofalo of seller Arris Partners, LLC.

Photo: 125 Water Street, Danvers

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Avison Young's Dickason

About Lisa McDuffie

Lisa McDuffie arrives at ConnectCRE via REALTOR® world, where she served for nearly two decades as communications director for one of the nation’s largest REALTOR® organizations. She supported two membership-elected presidents who were commercial real estate practitioners, and managed the communications initiatives of the organization’s commercial special interest group. When not following the latest commercial real estate news, Lisa is zeroed in on her charismatic off-the-track thoroughbred as she makes the transition from an utterly failed racehorse to a lovely show hunter.
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