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Medway Industrial Facility Trades for $19M

CBRE has brokered the $18.6 million sale of 51 Alder Street, a 162,736-square-foot industrial facility in Medway. Scott Dragos, Chris Skeffington, Doug Jacoby, Roy Sandeman, Tim Mulhall, Tony Hayes and Dan Hines represented the seller, Conroy Development, in the transaction. The buyer was Berkeley Partners.

Built in 2001, the facility is currently 91% leased and features 24-foot clear heights. The tenant roster currently includes Verizon and AZZ.

“It was a pleasure working on behalf of Conroy Development on this successful transaction, especially during such a challenging time” said Skeffington. “Berkeley Partners beat out a very competitive field and is thrilled to incorporate such a highly functional industrial asset with stable rent roll into their expanding Greater Boston industrial portfolio.”

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About David Cohen

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.