Reclamation Partners, in partnership with EOZ Ventures, announced the acquisition of a 33,619-square-foot light-industrial building located at 1023 Turnpike St. in Stoughton, Mass., within Boston's infill Route 128 South industrial submarket.
The single-tenant property, situated on 3 acres with four dock doors, 22-foot clear height, and a 100-foot truck court, is 100 percent occupied and cash-flowing, structured as a 10-year sale-leaseback. Reclamation secured the transaction on an off-market basis through its JLL brokerage relationship.
“Construction costs have risen more than 40 percent over the past few years, and the economics of building a 33,000-square-foot standalone industrial building in an infill Boston submarket simply do not work anymore. That is the environment we are investing into,” said Daniel Connaughton, managing partner at Reclamation. “This is our second acquisition in Route 128 South, and both deals share the same foundation: infill locations
