(To read more on the industrial market, click here.)

NORTH READING, MA-A Boston-based investment fund has made its fifth acquisition this year with the $7.8-million purchase of a 92,000-sf fully leased industrial warehouse here. The acquisition marked High Street Equity Advisors first foray into the Massachusetts market.

The investment group, which will hold the acquisition in its $250-million High Street Real Estate Fund I, picked up the property, located at 200 River Park Dr. along Interstate 93, after outbidding “at least a dozen” other investors, Ben Coues, senior vice president of High Street, tells GlobeSt.com. He notes that the investment group was driven to bid on the building because of its modern warehouse distribution capacity, its location about 15 miles north of Downtown Boston and its creditworthy tenant.

The building, which was on the market for only a month, is fully leased through January 2009 to Lindenmeyr Munroe, an independent fine-paper merchant that had the industrial warehouse built in 1997. “The location of this property along with its current occupancy and the long-term lease in place made this a very attractive investment for High Street,” adds Coues, noting that the group’s investment strategy focuses on acquiring properties with strong leasing characteristics that allow for an immediate return of income.

Earlier this year, the firm purchased four other industrial properties throughout the Mid-Atlantic region and currently holds investments in Pennsylvania, Ohio and New Jersey. Among its portfolio are 15 industrial, office and flex properties with future acquisitions planned.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?


© 2023 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

Dig Deeper


GlobeSt Net Lease Spring 2024Event

This conference brings together the industry's most influential & knowledgeable real estate executives from the net lease sector.

Get More Information


Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2023 ALM Global, LLC. All Rights Reserved.