Marcus Partners has acquired a five-building industrial portfolio in Boston’s northern suburbs. The company acquired the 307,353-square-foot, 99% occupied portfolio for $40,500,000 in partnership with Rhino Capital, with financing provided by Citizens Bank.
Included in the portfolio are 118 Mystic Ave. in Medford, MA and 27 Industrial Ave., 187 Billerica Rd., 10 Elizabeth Dr. and 10 Progress Ave., all in Chelmsford, MA. The deal brings the company’s total industrial acquisitions to more than 2.2 million square feet in the past 12 months as part of its overall industrial investment strategy.
“The demand for light industrial facilities continues to be robust and this portfolio offers strong occupancy plus substantial growth potential,” said Chris Legocki, managing director for Marcus Partners. “In a time of market uncertainty, this portfolio appeals to a diverse tenant base and offers resilient cash flow and value creation opportunities through a range of macro outcomes.”
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