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JLLIPT Acquires Metro Boston Industrial Property for $26M
Institutionally-managed daily NAV REIT JLL Income Property Trust has acquired Taunton Distribution Center, a 200,000-square-foot industrial property located in the Myles Standish Industrial Park for $25.7 million. The seller was not disclosed.
The property is nearby New England’s primary transportation corridors and population centers and features access to the I-495 highway system with direct connectivity to Boston, Providence, Worcester and the greater New England region. The Myles Standish Industrial Park consists of more than six million square feet of warehouse, distribution, manufacturing and office space.
“Given the rise of e-commerce and demographic shifts within the Boston metro area, the industrial market has transformed to become the end-of-the-line distribution hub for New England,” said Allan Swaringen, CEO of JLL Income Property Trust. “We are pleased to add this high-quality industrial property to our portfolio, as we increase exposure to core assets in high-barrier-to-entry markets. This investment brings our aggregate industrial allocation to over $700 million and 6.5 million square feet, representing 25% of the value of the overall JLLIPT portfolio.”
For comments, questions or concerns, please contact David Cohen
- ◦Sale/Acquisition
