Berkeley Partners Acquires Metro Boston Industrial Portfolio for $43M
Berkeley Partners acquired three industrial properties in greater Boston for $43 million. The properties are located at 417 South St. in Marlborough, 385 Myles Standish Blvd. in Taunton and 431 Washington St. in Franklin.
Built in 2012, 417 South St. is a 145,000-square-foot flex facility that is currently 87% leased to seven tenants. Berkeley Partners acquired the property for $14.2 million. Located in the Myles Standish Industrial Park, 385 Myles Standish Blvd. is a 139,500-square-foot flex facility that is fully leased to Verizon New England. 431 Washington St. is a 242,252-square-foot high-bay warehouse that is currently fully-leased to Champagne Logistics and Marsh USA. Both 385 Myles Standish Blvd. and 431 Washington St. were acquired by Berkeley Partners for a total of $29 million.
For the sale of 417 South St., Scott Dragos, Doug Jacoby, Chris Skeffington, Roy Sandeman, Anthony Hayes, Timothy Mulhall and Daniel Hines of CBRE represented the seller, Calare Properties. For the sale of 385 Myles Standish Blvd. and 431 Washington St., the CBRE team represented the seller, GFI Partners.
David Cohen is Southeast Editorial Director at Connect Commercial Real Estate. David is a media veteran with more than 10 years of experience in journalism, copywriting and communications across a variety of roles. He is responsible for covering commercial real estate news and trends in the Southeast, Florida, Washington D.C. and Boston at Connect CRE as well as specializing in the Student Housing sector.
Prior to joining Connect, David was the editor of Northeast Real Estate Business magazine and Student Housing Business magazine at France Media as well as spending time freelancing for ESPN and the Associated Press in the fast-paced field of live sports event production. He is also an owner and investor in multifamily real estate in Atlanta, GA.
David currently resides in Atlanta and graduated from the College of Communication & Information at the University of Tennessee Knoxville.
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