Marcus Partners sells Boston metro logistics portfolio for $167m
Marcus Partners has sold its Boston Metro Logistics Portfolio, a six-building warehouse/distribution portfolio located in Greater Boston, for $167 million.
The sale includes 176, 206 and 210 Grove St. in Franklin, Mass.; 17 Gilmore in Sutton, Mass.; 1 First Ave. in Peabody, Mass.; and 57 Littlefield St. in Avon, Mass.
Marcus Partners assembled the portfolio through a series of transactions between 2019 and 2021. It included the development of a 150,000-square-foot, class A industrial facility at 206 Grove St. in Franklin that has been fully leased to a multinational shipping and receiving and supply-chain management company on a long-term basis. And, in collaboration with local officials, Marcus Partners funded an effort to secure a $2.2 million MassWorks grant that will fund significant roadway improvements for the Town of Franklin.
The development site was created by combining land area from two adjacent properties (210 and 176 Grove St.) that were acquired t