Marcus Partners Acquires Three Warehouse/Distribution Buildings totaling 730,000 SF along 495 in MA
Marcus Partners, a value-oriented real estate investment, management and development firm, today announced its largest industrial acquisition to date, completed in partnership with NorthBridge Partners. Comprised of three properties, the acquisition of the Northeast Logistics Portfolio included 100 Adams Road in Clinton, MA as well as 525 Campanelli Drive and 1010 West Chestnut Street, both in Brockton, MA.
The properties are well-located providing excellent access to Greater Boston’s highway systems and population centers. The buildings offer efficient layouts with generous column spacing, ample car and trailer parking, and desirable loading capacity. The size of the tenant spaces within the portfolio varies significantly, providing an ability to accommodate a broad spectrum of tenant requirements.
“We are excited to expand our presence within the rapidly growing warehouse/distribution sector,” said Ryan McDonough, Marcus Partners’ Boston Regional Director. “The Greater Boston warehouse/distribution market is significantly supply-constrained relative to other parts of the country and continues to demonstrate strong tenant demand. This strategic purchase provides an attractive balance of secure in-place cash flow with an opportunity to create value through lease-up, renovation, and/or expansion of the assets. This portfolio acquisition advances our goal of increased exposure to the Boston market.”
Greg Lauze, Managing Partner of NorthBridge Partners added, “We are excited to partner with Marcus Partners and look forward to collaborating with their team to continue to actively improve the assets and create further value.”
Marcus Partners and its affiliates have completed 12 warehouse/distribution acquisitions to date. The firm’s current fund, Marcus Capital Partners Fund II, LP, invests in office, medical office, research and development, multifamily, warehouse, and industrial properties, primarily along the East Coast. It currently owns and / or manages a diversified portfolio that includes over 7 million square feet along the East Coast.
October 2018