Middleborough, MA Newmark Knight Frank (NKF) has completed the sale of 19 Leona Dr. and 139 Campanelli Dr. to NorthBridge Partners. The sale price was not disclosed. On behalf of Artemis Real Estate Partners and Calare Properties, vice chairman Edward Maher, executive managing director Matthew Pullen, director James Tribble and associate director Samantha Hallowell of NKF’s Boston Capital Markets team, which is led by co-head of U.S. Capital Markets Robert Griffin, oversaw the transaction of the two class A warehouse/distribution assets in conjunction with executive managing directors Ed Jarosz, Rick Schuhwerk and Tony Coskren and managing director Brian Pinch.
19 Leona Dr. serves as the corporate headquarters and primary northeast distribution center for Sager Electronics, an electronic components distributor. 139 Campanelli Dr. serves as a distribution center for Stop & Shop, a dominant regional grocer with more than 400 stores across New England, New York and New Jersey.
“19 Leona Dr. and 139 Campanelli Dr. benefit from strong credit tenancy and feature attractive upside via expansion potential,” said Pullen. “Furthermore, they enjoy an exceptional distribution location just off I-495.”
19 Leona Dr. and 139 Campanelli Dr. are located within the Campanelli Business Park, a 220-acre, 1.5 million s/f industrial campus. The are located near the intersection of Rtes. 18, 28 and 44, the assets facilitate seamless access to key local and regional distribution corridors.