Boston & New England CRE News In Your Inbox.
Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.
Brookfield Fund Trades Fully Leased Taunton Industrial
JLL Capital Markets closed the sale of 151 Charles F. Colton Rd., a 198,720-square-foot, Class A distribution center in Taunton, MA. The purchase price was not disclosed; the property last traded in 2019 for $25.7 million.
A JLL team led by managing director Michael Restivo and director David Coffman worked on behalf of the seller, a fund managed by Brookfield Asset Management. An Ares Management Real Estate fund acquired the asset, and the property will be managed by Ares Industrial Management.
Built in 2014, the facility is 100% leased to a leading tire and automotive service company in New England.
“This sale represented a rare opportunity to acquire a modern, Class A distribution facility in the thriving Greater Boston industrial market,” Restivo said. “With its strategic location, high-quality tenant and strong rent growth potential, 151 Charles F. Colton Rd. offers stable cash flow and attractive long-term investment fundamentals in a supply-constrained market.”
- ◦Sale/Acquisition