{"id":1004211093,"date":"2018-03-23T00:45:08","date_gmt":"2018-03-23T08:45:08","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004211093"},"modified":"2022-12-07T13:27:54","modified_gmt":"2022-12-07T21:27:54","slug":"novaya-sells-boston-area-industrial-portfolio-for-73m","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/novaya-sells-boston-area-industrial-portfolio-for-73m\/","title":{"rendered":"Novaya Sells Boston-Area Industrial Portfolio for $73M"},"content":{"rendered":"

By Beata Lorincz<\/p>\n

\"Aerial<\/a>

Aerial view of 1 Distribution Center Circle<\/p><\/div>\n

Novaya Real Estate Ventures has sold two industrial assets in Massachusetts to L&B Realty Advisors for a total of $72.7 million, according to public records. JLL’s Capital Markets\u00a0team secured $36.4 million in acquisition financing on behalf of the new owner.\u00a0A life insurance company originated the 10-year loan.<\/p>\n

The suburban warehouse portfolio<\/a>\u00a0is located at 1 Distribution Center Circle in Littleton, Mass., and at 154 Campanelli Drive in Middleborough, Mass.,\u00a0comprising a total of 775,000 square feet. Both assets are 100 percent leased: the 275,000-square-foot Middleborough building has a single tenant and traded for $21.4 million, while the second, 480,000-square-foot property sold for $51.3 million and is occupied by six tenants. The distribution buildings feature 32-foot ceiling heights.<\/p>\n

Solid industrial market<\/h2>\n
\"154<\/a>

154 Campanelli Drive<\/p><\/div>\n

The JLL team\u00a0managing the deal included Senior Vice President Robert Borden and Executive Vice President Heather Brown.<\/p>\n

“This fixed-rate financing is backed by fully leased, Class A buildings with secure and durable rent rolls in a fundamentally solid industrial market and was secured on behalf of an exceptionally strong institutional sponsor,”<\/em> said Borden, in prepared remarks.<\/p>\n

Images via Google Maps & Google Street View<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

The fully leased distribution centers, located in Littleton and Middleborough, Mass., encompass a total of 775,000 square feet. JLL secured the acquisition financing on behalf of the buyer\/borrower.<\/p>\n","protected":false},"author":739,"featured_media":1004517748,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1490,21743,21825,21748,21783,21742,10],"tags":[32796,37531,39362],"class_list":["post-1004211093","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-boston","category-deals","category-finance","category-industrial","category-investment","category-latest","category-northeast","tag-jll","tag-lb-realty-advisors","tag-novaya-real-estate-ventures"],"acf":[],"yoast_head":"\nNovaya Sells Boston-Area Industrial Portfolio for $73M - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/novaya-sells-boston-area-industrial-portfolio-for-73m\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Novaya Sells Boston-Area Industrial Portfolio for $73M\" \/>\n<meta property=\"og:description\" content=\"The fully leased distribution centers, located in Littleton and Middleborough, Mass., encompass a total of 775,000 square feet. 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