Description

As exclusive sales agent, Jones Lang LaSalle is pleased to offer for sale the Boston Multi-Tenant Light Industrial Portfolio (the “Portfolio”), a collection of three light industrial assets totaling 112,776 square feet. Located in Wilmington, Massachusetts, the Portfolio is 82% leased to five quality tenants with a 3.0 year WALT. This offering is an exciting opportunity to acquire three light industrial facilities located in one of Massachusetts’ highest performing submarkets.

Featuring tenants including Watson Marlow and Compass Group, the Portfolio offers a short-term WALT of 3.0 years and significant upside potential through below-market rents and lease-up of the vacancy. In addition to a mixed tenant roster, the Portfolio’s appeal is evidenced by functional property features including an average clear height of 18’ and a total of 14 loading docks.

Strategically positioned north of Boston, the Portfolio is located within one of Massachusetts’ most desirable submarkets. The North Submarket boasts exceptional accessibility, within reach of 58% of Greater Boston's population. This strategic location, combined with its talent-rich environment, has attracted employees from industry leaders such as Raytheon, Oracle, and Analog Devices. The North Submarket experiences overwhelming tenant demand and an increasingly tight development pipeline. The escalating construction and land costs have made development of new light industrial buildings unfeasible, putting further strain on the already tight supply. Given the limited remaining development sites, lack of new product within Greater Boston, and competing uses for multifamily, R&D, and industrial distribution, the imbalance of supply and demand will continue to spread. The Boston Multi-Tenant Light Industrial Portfolio presents a unique opportunity for investors to acquire three light industrial properties with a range of tenants in the dynamic North submarket.

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