{"id":1004493448,"date":"2020-11-17T03:46:37","date_gmt":"2020-11-17T11:46:37","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004493448"},"modified":"2020-11-17T03:46:37","modified_gmt":"2020-11-17T11:46:37","slug":"nuveen-pays-52m-for-amazon-leased-boston-facility","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/nuveen-pays-52m-for-amazon-leased-boston-facility\/","title":{"rendered":"Nuveen Pays $52M for Amazon-Leased Boston Facility"},"content":{"rendered":"
\"\"<\/a>

One National. Image via Google Maps<\/i><\/p><\/div>\n

Nuveen Global Cities REIT has completed the $52 million acquisition of One National, a 300,000-square-foot warehouse in Milford, Mass. A joint venture between New Mill Capital and Odyssey Real Estate Capital sold the Amazon-leased property<\/a>, according to Worcester County records.<\/p>\n

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READ ALSO<\/strong>: Nuveen Real Estate Secures $94M for Industrial Portfolio<\/a><\/p>\n

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Located on 34 acres at 1 National St., the property was completed in 1972. At the time of the sale, the warehouse was fully leased to Amazon on a long-term, triple-net lease, with more than five years remaining on the contract. The tenant will use the building as a middle-mile sorting center.<\/p>\n

The asset previously changed hands in 2018, when Ardagh Group sold it for $4.1 million, public records show. In 2019, New Mill and Odyssey invested $7.5 million in a capital improvement plan at the building, which previously served as a glass bottle plant, according to The Milford Daily News<\/em>. The improvements included installing a new roof, adding more dock-high doors, and demolishing the facility\u2019s furnaces.<\/p>\n

The site is within 4 miles of Interstate 495 and roughly 36 miles southwest of downtown Boston. The metro\u2019s industrial market has a 4.7 percent vacancy rate across 439 million square feet of logistics space, according to Nuveen.<\/p>\n

Earlier this month, the TIAA-affiliated company received a $94 million loan for a 1.5 million-square-foot industrial portfolio. The mortgage encumbers six properties located in Chicago, Denver and Los Angeles.<\/p>\n","protected":false},"excerpt":{"rendered":"

One National, a 300,000-square-foot warehouse in Milford, Mass., underwent a $7.5 million renovation in 2019. <\/p>\n","protected":false},"author":867,"featured_media":1004493466,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1490,21743,21748,21783,21742,10],"tags":[37482,36351,34611,43901,34613,33460],"class_list":["post-1004493448","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-boston","category-deals","category-industrial","category-investment","category-latest","category-northeast","tag-amazon","tag-capital-improvement","tag-new-mill-capital","tag-nuveen-real-estate","tag-odyssey-real-estate-capital","tag-tiaa"],"acf":[],"yoast_head":"\nNuveen Pays $52M for Amazon-Leased Boston Facility - 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\/nuveen-pays-52m-for-amazon-leased-boston-facility\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Nuveen Pays $52M for Amazon-Leased Boston Facility\" \/>\n<meta property=\"og:description\" content=\"One National, a 300,000-square-foot warehouse in Milford, Mass., underwent a $7.5 million renovation in 2019.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/nuveen-pays-52m-for-amazon-leased-boston-facility\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2020-11-17T11:46:37+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2020\/11\/One-National.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"800\" \/>\n\t<meta property=\"og:image:height\" content=\"620\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Pavel Cazacu\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/nuveen-pays-52m-for-amazon-leased-boston-facility\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/nuveen-pays-52m-for-amazon-leased-boston-facility\/\",\"name\":\"Nuveen Pays $52M for Amazon-Leased Boston Facility - Commercial Property Executive\",\"isPartOf\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/nuveen-pays-52m-for-amazon-leased-boston-facility\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/nuveen-pays-52m-for-amazon-leased-boston-facility\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2020\/11\/One-National.jpg\",\"datePublished\":\"2020-11-17T11:46:37+00:00\",\"author\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/caac04e9f88552f7c898ba456c2498d8\"},\"breadcrumb\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/nuveen-pays-52m-for-amazon-leased-boston-facility\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.commercialsearch.com\/news\/nuveen-pays-52m-for-amazon-leased-boston-facility\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/nuveen-pays-52m-for-amazon-leased-boston-facility\/#primaryimage\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2020\/11\/One-National.jpg\",\"contentUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2020\/11\/One-National.jpg\",\"width\":800,\"height\":620,\"caption\":\"One National. 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