News release

Boston-area Class A manufacturing facility trades in $31.4M in sale-leaseback deal

JLL Capital Markets completed the sale-leaseback to Lincoln Property Company and Web Industries, respectively

May 25, 2022

Kimberly Steele

Industries, Work Dynamics and PDS PR
+1 713 852 3420

BOSTON, May 25, 2022 – JLL Capital Markets announced today that it has closed the $31.4 million sale-leaseback of the 85,000-square-foot, state-of-the-art manufacturing facility at 220 Hopping Brook Rd. in the Boston-area suburb of Holliston, Massachusetts.  

JLL marketed the property on behalf of the seller, Web Industries, who executed a 10-year sale-leaseback at market rent upon sale. Lincoln Property Company, in partnership with Stockbridge, acquired the asset through a very competitive bidding process.

220 Hopping Brook Rd. was originally built by Web Industries and has been their greater Boston home for more than 20 years. Web Industries is a 100% employee-owned company and market-leading provider of comprehensive outsource manufacturing and precision converting services in the aerospace, medical, personal and home care sectors. The building has served as a mission-critical part of the tenant’s operation, and they have invested significant capital into its transition from a traditional manufacturing facility into a GMP-ready asset with BSL-2 lab space, dry rooms, mezzanine and more.

Positioned on 13.47 acres, 220 Hopping Brook Rd. is well located within Holliston’s premier industrial park. This location provides easy access to both Interstates 495 and 90 and gives tenants in the park a deep bench of nearby talent from which to recruit. In recent years, the 495 Corridor has become a hot bed for GMP and manufacturing users, as the shift from traditional R&D demand to production has created an unprecedented amount of tenant demand requirements.

The JLL Capital Markets Investment Sales Advisory team was led by Senior Directors Michael Restivo and Martha Nay and Director Lenny Pierce, with support from JLL Brokerage’s Managing Director Neil Ross.

“This was an excellent opportunity for Lincoln to acquire a Class A manufacturing facility, while Web Industries was able to cash in on a hot industrial market to reinvest money back into their core manufacturing business,” Restivo said.

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 investment sales and advisory, debt advisory, equity advisory or a recapitalization. The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.

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About JLL

JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. JLL shapes the future of real estate for a better world by using the most advanced technology to create rewarding opportunities, amazing spaces and sustainable real estate solutions for our clients, our people and our communities. JLL is a Fortune 500 company with annual revenue of $19.4 billion, operations in over 80 countries and a global workforce of more than 100,000 as of March 31, 2022. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit

About Web Industries, Inc.

A 100% employee-owned company, Web Industries, Inc., is one of the largest and most diverse providers of precision converting and outsource manufacturing. Web Industries helps customers in the aerospace, medical, personal and home care and industrial markets bridge their capability gaps and accelerate their go-to-market success by leveraging close, trust-based relationships to develop ingenious solutions precisely tailored to their needs. From project inception through commercialization, Web offers creative problem-solving backed by deep technical and operational expertise.

About Lincoln Property Company

Lincoln Property Company, founded in 1965, is a national commercial real estate company involved in real estate investment, development, property management and leasing worldwide. Lincoln has offices in all major markets of the U.S. and throughout Europe. Lincoln’s cumulative development efforts have produced over 130 million square feet of commercial space. Lincoln has been an owner, operator and developer of life science real estate for over 20 years with over four million square feet of lab, R&D and life science manufacturing space under management across greater Boston. For more information on Lincoln Property Company’s Boston office, visit