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Invesco Real Estate Invests in R&D, Laboratory Property in Dedham
Newmark has completed the sale of 100 Rustcraft Road, a flex, R&D and laboratory asset located in the suburban Boston, MA community of Dedham.
Robert Griffin, Edward Maher, Matthew Pullen and Samantha Hallowell of Newmark represented the seller, RJ Kelly and Independencia Asset Management, and procured the buyer, Invesco Real Estate. William Sleeper of Newmark provided financial analysis support.
Totaling 422,117 square feet, 100 Rustcraft Road is 100% leased to a rent roll anchored by General Dynamics and the American Red Cross. The asset features multiple entrances, loading docks and drive-in doors plus 13’ to 26’ clear heights and abundant parking capacity.
“As a single-story building with flexible infrastructure on a 53-acre site just 20 miles outside of Boston, 100 Rustcraft Road is an irreplaceable asset with exceptional functionality for a variety of uses,” said Pullen. “The asset is well positioned to benefit from the region’s favorable flex sector fundamentals as R&D, life science and industrial tenant requirements continue to converge.”
- ◦Sale/Acquisition
