B&D Holdings acquires fully leased
109,300 s/f industrial property for $18.5 million

Avon, MA JLL capital markets arranged the $18.5 million sale and acquisition financing for 21 Parker Dr., a 109,300 s/f industrial asset.

JLL represented the seller, Oliver Street Capital and Bain Capital Real Estate, in the sale to B&D Holdings. Working on behalf of the new owner, JLL also arranged the fixed-rate, three-year loan through Provident Bank.

Built in 1972, 21 Parker Dr. features 17 ft. to 32 ft. clear heights, a 135 ft. truck court depth, parking and over an acre of outdoor storage. The property offers suite options and is 100% leased to a tenant base including Taylor Communications, HelloFresh and FreshPoint.

Located within Avon Industrial Park, 21 Parker Dr. provides accessibility to Boston’s major transportation routes, including Rtes. 24 and 3, as well as I-93, I-95 and I-495.

The JLL investment sales and advisory team was led by managing director Michael Restivo and director David Coffman. Additionally, managing director Thomas Didio Jr., managing director Amy Lousararian and director Max Custer spearheaded the JLL debt advisory team.

“21 Parker Dr.’s full occupancy, diverse tenant mix and substantial outdoor storage in an infill location exemplify the type of industrial assets that remain in high demand, even amidst rising interest rates,” said Restivo. “The competitive bidding process further emphasizes the sustained investor interest in strategically positioned industrial properties in the Greater Boston area.”

“This acquisition fits well into B&D’s main investment focus of highly functional infill shallow-bay warehouse and IOS industrial assets with strong leasing undercurrents,” said Rob Logan, principal of B&D Holdings. “The Boston industrial market is a focus for our team, and we look forward to building off this investment as we explore future opportunities in the region.”