JLL arranges sale of Boston industrial portfolio
An institutional investor purchased the portfolio in an off-market transaction
BOSTON, May 26, 2020 – JLL announced today that is has closed the sale of a fully leased, four-property multi-tenant industrial portfolio totaling approximately 286,000 square feet along with a one-acre land parcel in the Boston-area community of North Reading, Massachusetts.
JLL procured the buyer, an institutional investor, in an off-market transaction.
The portfolio comprises industrial facilities at 23, 29, 35-37 and 45 Concord St. and an adjacent land parcel. The properties are located in the coveted 128 North Industrial submarket, which provides ease of access to Boston and other geographies via routes 128 and 93.
The Industrial Brokerage and Capital Markets teams leading the transaction included Vice President Benjamin Roopenian and Director Michael Restivo along with Senior Vice President Matt Sherry.
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 advisory, debt placement, equity placement or a recapitalization. The firm has more than 3,700 Capital Markets specialists worldwide with offices in nearly 50 countries.
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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 $18.0 billion, operations in over 80 countries and a global workforce of more than 94,000 as of March 31, 2020. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.