Reclamation Partners, in partnership with EOZ Ventures, acquired a 33,619-square foot light industrial building located at 1023 Turnpike St., Stoughton, MA, within Boston’s infill Route 128 South industrial submarket. The single-tenant property is a 100% occupied cash-flowing acquisition structured as a 10-year sale-leaseback.
Reclamation secured the transaction on an off-market basis through its JLL brokerage relationship. Terms were not disclosed.
“Construction costs have risen more than 40% over the past few years, and the economics of building a 33,000-square foot standalone industrial building in an infill Boston submarket simply do not work anymore, ” said Daniel Connaughton, managing partner at Boston-based Reclamation. “That is the environment we are investing into.”
He continued, “This is our second acquisition in Route 128 South, and both deals share the same foundation: infill locations, standalone configurations that cannot be economically replicated and physical characteristics that tenants compete for.”
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