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Canton Industrial Facility Trades for $51M

Service Properties Trust (Nasdaq: SVC) has completed the sale of a 674,143-square-foot industrial facility in Canton, MA. The sales price was $51 million. The proceeds from the sale will be used for the repayment of debt.

Located at 555 Turnpike St., the facility was acquired as part of the REIT’s SMTA net lease portfolio acquisition in September of 2019.

Service Properties Trust owns a portfolio of hotels and net lease service and necessity-based retail properties across the United States and Canada, with 148 brands across 23 industries. SVC’s properties are operated under long term management or lease agreements. SVC is managed by the operating subsidiary of The RMR Group Inc. (Nasdaq: RMR).

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About David Cohen

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.

  • ◦Sale/Acquisition