(Read more on the industrial market.)

SOMERVILLE, MA-Completing a deal broker Richard Bradbury terms"a perfect fit," the Carlyle Group has paid $32.3 million for 70Innerbelt Rd., a blend of telecom and warehouse space sited on theedge of Cambridge and Downtown Boston. While somewhat diverse, themixed-use plays into two specialties Carlyle is adept at, accordingto Bradbury, a member of the Richards Barry Joyce & Partnersinvestment team who represented seller ING Clarion and procured thebuyer with colleagues Richard Herlihy and Steve Purpura.

A private equity firm based in Washington, DC, Carlyle "saw arecovering industrial market and a recovering telecom market, andthey identified [70 Innerbelt] as a perfect fit to take advantageof both," Bradbury tells GlobeSt.com. The chief tenant, InternapNetwork Services Corp., has fared well after a bumpy beginning, andBradbury credits ING Clarion for sticking with the tenant early onand assisting in their build out, space now fetching $20 per sf.That investment provided an attractive element in marketing theasset, says Bradbury, who reports 10 final offers and a late-minuteshowdown between the victors and another firm whose focus is ontelecom.