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Guggenheim Divests Boston-Area Asset to TH Real Estate
TH Real Estate acquired 190 Mechanic Street, a 210,700-square-foot warehouse-distribution facility located in Bellingham, MA from Guggenheim Real Estate for $25.1 million. The buyer, an affiliate of Nuveen, the investment management arm of TIAA, purchased the 100%-leased, institutional-quality asset to expand its industrial and logistics holdings outside leading urban centers such as Boston.
The property was built in 2006, and boasts best-in-class features such as 32-foot clear height, ESFR sprinkler system, T5 motion-sensor lighting, a 1.3/10,000-square-foot loading dock ratio, 40-foot by 40-foot column spacing and additional trailer parking.
CBRE’s Chris Skeffington, John Lashar and Roy Sandeman represented the seller, and procured the buyer.
CBRE’s Sandeman says, “With Central National Gottesman in place for another 6+ years, TH Real Estate has purchased the ultimate trifecta: a true best-in-class asset, with durable cash flow and a credit-tenant anchor.”
For comments, questions or concerns, please contact Dennis Kaiser
- ◦Sale/Acquisition