Suburban Boston Industrial Portfolio Trades for $44M
PGA Realty Company sold the four-property portfolio, including a 28-acre fully-entitled development site, to the Davis Cos. in an off-market transaction.
BOSTON, MA – PGA Realty Company LLC has sold a 156,276-square-foot, flex/industrial portfolio located in suburban Boston to the Davis Cos. for $44.3 million.
The portfolio encompasses four properties and a fully-permitted, 28-acre development site, which supports up to 235,040 square feet in new construction.
The portfolio’s properties are located at One Aegean Dr. in Methuen, MA, and 26, 35 and 37 Upton Dr. in Wilmington, MA. The development site is located at 36 and 38 Upton Drive in Wilmington, MA.
At the time of the sale, the properties were 100% leased to a variety of tenants, including Watson Marlow, WorldPac and the Brockway-Smith Cos.
A JLL capital markets team, led by senior director, Kerry Hawkins, represented the seller in the off-market transaction.