Readville, MA On behalf of a joint venture partnership between Wallace Property and GFI Partners, CBRE/New England’s Debt & Structured Finance team secured $11 million in acquisition/capital improvement financing for Boston Business Park – Building 200, a 205,061 s/f industrial building located at 100 Meadow Rd.
100 Meadow Road - Readville, MACBRE/NE’s John Kelly, Kyle Juszczyszyn, Chris Coutts and Lenny Pierce secured the financing. “It was a pleasure working with our client to secure the financing for this transaction,” said Kelly. “We were able to secure attractive, long-term low-rate debt that matched our client’s business plans.”
“We are excited to add another industrial asset to our portfolio,” said Steve Goodman of GFI. “Industrial properties with this level of spatial capacity and rail access are rare so close to Boston’s urban core.”
“We believe that this strategic long-term hold will be a big success for us and our partners,” said Rob Wallace of Wallace Property.
Boston Business Park is the future home to M.S. Walker, ABEX Transportation and Katsiroubas Bros. These tenants join a tenant roster that currently includes HD Supply, The Ride (operated by the Mass Transportation Association), Gentle Giant Moving and MFI Tire Wholesale. Located at 100 Meadow Road, Building 200 offers tenants excellent access to Interstates 90, 93, 95 and the surrounding major markets. Most notably, it has direct CSX rail access with three rail-side doors and outside loading for five rail cars.
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. Please visit our website at www.cbre-ne.com. CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (in terms of 2015 revenue). The company has approximately 70,000 employees (excluding affiliates), and serves real estate owners, investors and occupiers 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.
