A joint venture between Boston-based Oliver Street Capital and Bain Capital Real Estate has paid $154 million for a premier industrial portfolio comprising eight buildings in Wilmington, Mass.
CBRE represented the seller, Fred Dicenso Trust.
“Boston is a target market on all investors’ radar right now, and it’s not very often a true infill industrial cluster becomes available,” noted Scott Dragos, CBRE executive vice president. “What this portfolio uniquely offered was its scale, location, proximity to I-93 and the mark-to-market opportunities. I. Fred DiCenso Trust did everything right over the years by maintaining such high-quality standards and developing and managing the assets, which resulted in an extremely competitive sales process.”
The portfolio, spread across more than 49-acres, is currently 96 percent leased to 27 tenants. Notable tenants include Crate & Barrel, Energy Sciences, 3Step Sports and Altro USA, among others.
The Bost
