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News release

BOSTON, MA

JLL Capital Markets Closes Sale of 154 Campanelli Drive

Novaya purchases premier industrial warehouse in Middleborough, MA


BOSTON, March 23, 2016 – On behalf of a separate account client of AEW Capital Management, L.P., JLL's Capital Markets experts today announced the sale of 154 Campanelli Drive, a premier Class A industrial warehouse in Middleborough, MA. Novaya purchased the 275,000-square-foot facility, for which JLL also serves as the exclusive leasing agent. 

Managing Directors Frank Petz and Jessica Hughes, Vice President Robert Borden, and Associate George Gregory led the JLL team on the transaction, while Senior Vice Presidents Heather Brown and Jon Schneider secured financing. 

According to Petz, "154 Campanelli Drive is one of only a select few buildings within Boston's tightening south industrial market that has both greater than 200,000 square feet and a 32' clear height. The offering presented an opportunity to acquire a best in class asset with an absolute net lease that provides attractive and secure cash flow." 

154 Campanelli Drive has 225,000 square feet of Class A warehouse featuring 36 foot clear heights, 40 loading docks, and 43.5' x 40' column spacing. The property also features a unique 50,000-square-foot office component. The highly functional 275,000-square-foot facility is 100% occupied by alphabroder, the leading distributor of imprintable activewear in North America.  

Located within Campanelli Business Park, 154 Campanelli Drive is less than one mile from I-495 and roughly 30 miles from both Boston and Providence. Other notable tenants in the Park include Christmas Tree Shops, Trader Joe's and Serta Mattress. 

JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether a sale, financing, repositioning, advisory or recapitalization execution. In 2014 alone, JLL Capital Markets completed $118 billion in investment sale and debt and equity transactions globally. The firm's Capital Markets team comprises more than 1,700 specialists, operating all over the globe. 

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About JLL

JLL (NYSE: JLL) is a professional services and investment management firm offering specialized real estate services to clients seeking increased value by owning, occupying and investing in real estate. A Fortune 500 company with annual fee revenue of $5.2 billion and gross revenue of $6.0 billion, JLL has more than 230 corporate offices, operates in more than 80 countries and has a global workforce of more than 60,000. On behalf of its clients, the firm provides management and real estate outsourcing services for a property portfolio of 4.0 billion square feet, or 372 million square meters, and completed $138 billion in sales, acquisitions and finance transactions in 2015. Its investment management business, LaSalle Investment Management, has $56.4 billion of real estate assets under management. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit www.jll.com.