
Marcus Partners Acquires 165K-SF Industrial Facility in Franklin
Real estate investment, management and development firm Marcus Partners has acquired 210 Grove, a 165,000-square-foot industrial property in Franklin. The sales price was undisclosed. The firm also recently acquired the adjacent 176 Grove Street, as part of a larger Greater Boston industrial portfolio.
Additionally, the purchase included a site that will accommodate a new Class A warehouse building of up to 150,000 square feet. Marcus Partners will also improve the existing building at 210 Grove through a capital improvement plan that includes adding loading capacity.
“This acquisition provides an attractive mix of contractual income from existing tenancy with the ability to create significant value through future development. It unlocks a key opportunity in one of our market’s strongest sectors, as industrial assets continue to enjoy historically low vacancy rates and robust rent growth,” said Ryan McDonough, Boston Regional Director at Marcus Partners. “Our firm’s development expertise will enable us to deliver a Class A industrial building that caters to the evolving needs of today’s warehouse tenants.”
Connect Industrial is coming up on November 19th in Houston. You can get more details and register to attend on this link.
For comments, questions or concerns, please contact David Cohen
- ◦Sale/Acquisition