Nuveen Global Cities REIT acquires $52m metro Boston industrial property

Nuveen Global Cities REIT has acquired One National, an industrial property located in metro Boston, for $52 million.

The 300,000-square-foot light industrial property is fully leased to a single ecommerce tenant, which plans to use the newly renovated class A facility as a middle-mile sorting facility.

One National is located at 1 National St. in Milford, Mass. Home to nearly 5 million people, the Boston metro area is recognized as an intellectual and medical hub, including more than 100 colleges and universities with an annual enrollment of 250,000 students. Boston is a very dense and land-constrained market boasting a 4.7 percent vacancy rate across 439 million square feet of industrial space.

“We are excited to announce the acquisition of a strategically located industrial property in the high-barriers-to-entry Boston market. The location is ideal for ecommerce tenants, as it allows deliveries to all households within the Boston MSA and the surrounding re