Norton, MA On behalf of NorthBridge Partners, CBRE/New England’s Debt & Structured Finance team secured acquisition financing for 192 Mansfield Ave., a 347,500 s/f, class A warehouse and distribution facility.
CBRE/NE’s Kyle Juszczyszyn, Chris Coutts and Lenny Pierce arranged the financing in the amount of $19 million.
192 Mansfield Avenue - Norton, MA“We are pleased to have assisted NorthBridge Partners with the recent acquisition in Norton. We were able to secure very attractive financing terms and close within 35 days from a signed application. NorthBridge Partners moved quickly to close the financing and it was a great team effort,” said Coutts.
192 Mansfield Ave. is fully leased to Advance Auto Parts, Inc. (NYSE: AAP/S&P: BBB-/Stable), the largest automotive aftermarket parts provider in the world with over 5,200 stores, serving both professional installers and do-it-yourself customers. Advance Auto Parts has invested significant capital in the asset, including the installation of a high-density inventory management system, addition of a mezzanine, reconfiguration of warehouse areas and creation of a new office space.
CB Richard Ellis – N.E. Partners, LP, a joint venture with CBRE Group, Inc. has offices in Massachusetts, Connecticut, Rhode Island, Maine and New Hampshire. CBRE Group, Inc., a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services firm (in terms of 2015 revenue). The company has 70,000 employees (excluding affiliates), and serves real estate owners, investors and occupiers through more than 300 offices (excluding affiliates) worldwide. CBRE offers strategic advice and execution for property sales and leasing; corporate services; property, facilities and project management; mortgage banking; appraisal and valuation; development services; investment management; and research and consulting.