Link Logistics Pays $175M for Industrial Assets

12 Forge Parkway. Image courtesy of CBRE

Link Logistics has acquired six industrial properties spread across suburban Massachusetts for $175 million. AEW Capital Management sold the 803,000-square-foot portfolio.

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Located throughout Greater Boston, the assets offer direct access to the area’s most important interstates, including Interstate 90, Interstate 95, Interstate 93 and Interstate 495. At the time of sale, the portfolio was fully leased to eight tenants, with rents at 36 percent below market level and a weighted average remaining lease term of 6.3 years.

Portfolio details

The collection comprises:

• The 236,331-square-foot building situated at 12 Forge Parkway in Franklin, Mass., was completed in 1987 on a 14.6-acre site, but underwent a complete renovation in 2017 and includes 28-foot clear height.
• The 167,406-square-foot building located at 150 Dascomb Road, in Andover, Mass., features 142 parking spots and 40-foot clear height.
• Situated at 25 Industrial Way, in Wilmington, Mass., the 120,000-square-foot building was completed in 1970 and features 26-foot clear height.
• The 1987-built warehouse located at 65 Sunnyslope Ave. in Tewksbury, Mass., features 122 parking spaces.
• The 70,744-square-foot building situated at 82 S. St. in Hopkinton, Mass., was developed in 1987 on an almost 21-acre site.
• The last asset in the portfolio is the 51,200-square-foot building located at 19 Technology Drive in Auburn, Mass.

CBRE Executive Vice Presidents Scott Dragos, Doug Jacoby and Chris Skeffington, together with Senior Vice President Anthony Hayes, Vice President Dan Hines and First Vice Presidents Roy Sandeman and Tim Mulhall worked on behalf of the seller. The team recently helped Black Creek Group enter the Greater Boston industrial market, with the acquisition of a 209,643-square-foot facility.