Marcus Partners Snags 4-Building Industrial Portfolio in Greater Boston
Real estate investment, management and development firm Marcus Partners has acquired a four-building warehouse and distribution portfolio in metro Boston for an undisclosed price. The portfolio totals 899,755 square feet.
The four properties include 176 Grove St. in Franklin, 326 Ballardvale St. in Wilmington, 1 First Ave. in Peabody, and 57 Littlefield St. in Avon. The seller was not disclosed. Marcus Partners now owns more than two million square feet of industrial product in the greater Boston area.
“Greater Boston’s warehouse/distribution sector is significantly supply-constrained relative to other parts of the country and continues to demonstrate strong tenant demand,” said Ryan McDonough, Marcus Partners’ Boston Regional Director.
“This strategic purchase expands our presence and provides an attractive balance of secure in-place cash flow with an opportunity to pursue multiple value-add strategies; most notably through the development of excess land.”
David Cohen is Southeast Editorial Director at Connect Commercial Real Estate. David is a media veteran with more than 10 years of experience in journalism, copywriting and communications across a variety of roles. He is responsible for covering commercial real estate news and trends in the Southeast, Florida, Washington D.C. and Boston at Connect CRE as well as specializing in the Student Housing sector.
Prior to joining Connect, David was the editor of Northeast Real Estate Business magazine and Student Housing Business magazine at France Media as well as spending time freelancing for ESPN and the Associated Press in the fast-paced field of live sports event production. He is also an owner and investor in multifamily real estate in Atlanta, GA.
David currently resides in Atlanta and graduated from the College of Communication & Information at the University of Tennessee Knoxville.