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Stockbridge Acquires Low-Coverage Walpole Industrial
JLL Capital Markets arranged the $26-million sale of 295 Union St., a low-coverage, 85,159-square-foot industrial property located in Walpole, MA. Managing director Michael Restivo and directors David Coffman and Tommy Hovey represented the sellers, Casco Real Estate Partners and Berkeley Partners. Stockbridge acquired the asset.
“295 Union Street is a rare find – a low-coverage, Class A industrial asset in Boston’s severely supply-constrained infill market,” said Restivo. “Its strategic location, modern specifications and roster of quality tenants will set it up to capitalize on the ongoing imbalance between industrial supply and demand in the region.”
Located in Norfolk County, 295 Union is leased to a mix of high-credit tenants, including Tesla, Home Depot and Goodyear. The property was recently repositioned to meet the needs of today’s institutional tenancy, according to JLL. It was leased up by JLL’s Joe Fabiano and Michael Ciummei, who also supported the sale process.
- ◦Sale/Acquisition


