DEVENS, MA—Exeter Property Group of Plymouth Meeting, PA has acquired a 184,000-square-foot distribution facility here.
Brokerage firm Avison Young announced the deal. No financial details of the transaction for the purchase of the 235 Barnum Road was disclosed. The property is 100% leased and occupied by Quiet Logistics.
The team that represented ownership in the transaction was Erik Foster and Mike Wilson, practice leaders of the firm's Industrial Capital Markets Group, along with principals Michael Smith and Scott Jamieson and senior vice president Brandon Dickason from the firm's Boston based Capital Markets Group, and William Sullivan, vice president in the Boston industrial leasing practice. Foster and Wilson are based in Chicago.
“This asset offers the new owners an excellent opportunity to invest in a growing market for corporate distribution space,” says Foster. “This transaction is a perfect example of how Avison Young's principal-led platform encourages collaboration amongst national market teams and regional and local professionals to provide best in class brokerage solutions.”
Constructed in 2000, the cross-docked distribution facility offers 178,373 square feet of warehouse space and a little more than 5,500 square feet of office space. It features 32-foot clear ceiling heights and 59 loading docks, and is located on a 16.02-acre site within the Devens Industrial Park.
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