X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

BELLINGHAM, MA-CB Richard Ellis Realty Trust is purchasing 140 Depot St., a warehouse/distribution facility fully leased to Best Buy. The 238,370-square-foot property is a recently completed class A built-to-suit in which Best Buy holds a 10-year lease. The property was purchased for $19 million from an unnamed developer, as a built-to-suit for Best Buy in an all-cash deal.

Chuck Hessel, director of Investments for CBRE says in a statement, “The features in this building make it superior to market standards and one of the most modern logistics facilities in the boston metro area.” The property at 140 Depot is expandable and has pre-cast concrete construction, cross-docking, a 36-foot clear height, ESFR sprinklers and excess trailer parking. Sitting in an easily accessible location, 140 Depot is off the Interstate 495.

The rental rates were not disclosed, but Cushman & Wakefield’s Marketbeat for Q109 show an average rental rate in the mid-$5 per square foot range for that area’s warehouse/distribution facilities.

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?

GlobeSt

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 © 2021 ALM Media Properties, LLC. All Rights Reserved.