Colony Capital Sells New Littleton Distribution Facility

Portpourri facility, Littleton, MA.

LITTLETON, MA—Colony Capital has sold a fully-leased 450,000-square-foot distribution center here to New York City-based Gramercy Property Trust for nearly $40 million. Los Angeles-based Colony Capital sold the Potpourri Littleton distribution facility for $39.75 million, according to Newmark Grubb Knight Frank Capital Markets, which represented the seller in the deal. The state-of-the art build-to-suit facility is fully leased to multi-brand retailer Potpourri Group on a long-term basis. The property will serve as a key regional fulfillment center for the firm, which is headquartered nearby in North Billerica, MA. The NGKF Capital Markets Boston team, led by U.S. head of capital markets Robert Griffin, vice chairman Edward Maher and executive managing director Matthew Pullen, oversaw the transaction on behalf of Colony Capital. “Potpourri Littleton represents a truly best-in-class property including advanced fulfillment technology, exceptional efficiency, generous clear heights, abundant loading capacity and ample automobile and trailer parking with cross-docking potential,” says Pullen. “In New England, this type of modern, large-block, high-bay industrial product is rare, providing Potpourri