Boston-based Reclamation Partners, in partnership with Fox Capital Partners, has acquired a 74,300-square-foot light industrial building located at 660 Bodwell St. in Avon, MA, within Boston’s infill Route 128 South industrial submarket. Terms were not disclosed.
The single-tenant property, situated on 4.9 acres, represents a value-add acquisition in one of the region’s most densely populated corridors. Reclamation completed the transaction on an off-market basis and entered into a six-month sale-leaseback with the previous owner, Research Packaging Inc.
Following expiration of the lease, Reclamation will begin a capital improvement program. Improvements will include refreshed office interiors, a white box revamp of the warehouse space, HVAC and electrical upgrades.
“This transaction reflects our value-add operating playbookâacquiring well-located infill industrial assets at compelling bases and enhancing them through targeted capital improvements to maximize leasing outcomes and long-term value creation,” said Matthew McCarthy, managing partner at Reclamation.
The post Reclamation Partnership Nabs Value-Add Industrial in 128 South Submarket appeared first on Connect CRE.
Gillian Executive Search is a leader in Industrial Development, Financing, Design and Construction recruiting. www.gessearch.com