Tishman Speyer Buys 60-Acre Industrial Site in Peabody 

Tishman Speyer and Mitsui Fudosan America have acquired a 60-acre development site from Analogic Corp. at 8 Centennial Drive in Peabody, Massachusetts. The site, currently home to a 515,000-square-foot office and manufacturing facility, is set for a major transformation. The plan is to develop an industrial park featuring four warehouse buildings in size from 130,000 to 260,000 square feet. Plans also include approximately 700 parking spaces and 90 trailer storage stalls. 

“8 Centennial is the ideal next step for our growing industrial platform,” said Tishman Speyer managing director and head of Industrial Andy Burke. “The site benefits from an infill location, direct highway access and proximity to Boston, one of the Northeast’s most important metropolitan centers.” 

This is the third purchase made through the Tishman Speyer-Mitsui Fudosan America Logistics Venture. Established in 2022 with an initial $500 million investment from MFA and co-investment capital from Tishman Speyer, this joint venture focuses on developing new projects from scratch and renovating or redeveloping existing industrial properties in major urban centers across the United States.