Bain Capital, Oliver Street Partnership Buys Winchester Industrial Property
The property was sold by JG Holt Limited Partnership. JLL represented the seller and procured the buyer. Additionally, working on behalf of the new ownership, JLL facilitated debt financing totaling $13.32 million for the transaction with Harbor One Bank.
WINCHESTER, MA—A partnership of Boston-based investment firms Bain Capital Real Estate and Oliver Street Capital has acquired a fully-leased 180,000-square-foot industrial building here in an off-market transaction valued at $19.35 million.
The property was sold by JG Holt Limited Partnership. JLL represented the seller and procured the buyer. Additionally, working on behalf of the new ownership, JLL facilitated debt financing totaling $13.32 million for the transaction with Harbor One Bank.
Situated on 9.7 acres, 45 Holton St. is located on the Winchester-Woburn line less than 10 miles from Boston and nine miles from Cambridge. The property is fully leased to two tenants—Tighe Logistics Group and Archive America. The building features a clear height of 26 feet, 33 loading docks, two drive-in doors and 10% office finish.
“We’re excited to add 45 Holton to our portfolio, and it’s a great fit for our partnership with BCRE,” says Oliver Street Capital managing principal Jon O’Donnell.
Jon Hyde, managing principal at Oliver Street, adds, “45 Holton is a highly functional industrial building with scale, which is difficult to find this close to Boston.”
The property has access to multiple major suburban Boston highways, including Interstates 95 and 93 and Route 3. 45 Holton St. is in the established Wilmington/Winchester industrial submarket, which has experienced diminishing supply and growing demand in recent years.
The JLL sales and leasing team representing the seller included senior director Matt Sherry; managing directors Jamey Lipscomb, Chris Decembrele and Chris Lawrence; and assistant VP Zach Gramlich. The Capital Markets debt placement team representing the borrower was led by JLL senior director Brett Paulsrud and associate Sam Campbell.