JV Buys Holliston Manufacturing Facility in $31M Sale-Leaseback Deal
JLL has closed the $31.4-million sale-leaseback of the 85,000-square-foot manufacturing facility at 220 Hopping Brook Road in the Boston suburb of Holliston, MA.
Michael Restivo, Martha Nay, Lenny Pierce and Neil Ross of JLL represented the seller, Web Industries, which executed a 10-year sale-leaseback at market rent upon sale. Boston-based Lincoln Property Company, in partnership with Stockbridge, acquired the asset.
“This was an excellent opportunity for Lincoln to acquire a Class A manufacturing facility, while Web Industries was able to cash in on a hot industrial market to reinvest money back into their core manufacturing business,” Restivo said.
The property is on 13.47 acres located within Holliston’s premier industrial park and provides access to interstates 495 and 90. According to JLL, the 495 corridor has become a hotbed for GMP and manufacturing users, as the shift from traditional R&D demand to production has created an unprecedented demand.
Lisa McDuffie arrives at ConnectCRE via REALTOR® world, where she served for nearly two decades as communications director for one of the nation’s largest REALTOR® organizations. She supported two membership-elected presidents who were commercial real estate practitioners, and managed the communications initiatives of the organization’s commercial special interest group.
When not following the latest commercial real estate news, Lisa is zeroed in on her charismatic off-the-track thoroughbred as she makes the transition from an utterly failed racehorse to a lovely show hunter.