Intercontinental Real Estate Drops $108M for Boston Industrial Portfolio

Intercontinental Real Estate Corporation has paid $107.5 million to acquired Yard 5, a three-building industrial portfolio totaling 196,000 square feet located on Industrial Drive in Boston, MA.

Dave Pergola, Brian Doherty, Pete Rogers, Rob Byrne and Jim Murphy of Cushman & Wakefield represented the seller, First Highland Management & Development.

“The transit-oriented portfolio is well-positioned to capture rental growth upside and is currently 100% leased to a diverse and strong credit rent roll,” said Doherty.

Yard 5 consists of three buildings totaling 196,000 square feet of high-bay industrial and research space featuring 28-foot clear heights. In addition to the three existing buildings, the portfolio includes two land parcels totaling approximately seven acres.

Yard 5 is located at the MBTA’s Readville station just south of Boston with access to Interstate 95 and Route 128, for connection to all Greater Boston major thoroughfares.