Victor Galvani, senior associate for Parsons Commercial Group, Inc. (PCG), represented the buyer in the purchase of 505 Collins St. The 202,683 s/f industrial building traded for $12.5 million.
The building which sits on just over 18 acres is fully leased to a single tenant user, TriMark United East. The tenant is one of the country's largest providers of equipment, supplies, and design services for the foodservice industry.
The original 152,730 s/f building was built in 1979 and recently underwent a 50,000 s/f state of the art expansion. The building features 18 loading docks, 2 drive-in doors and 18 foot clear ceiling heights making it ideal for warehouse distribution. The building is immediately located off the interchange of I-95 and Rte. 1. The buildings' superior location is also within walking distance to the commuter rail.
"The deal satisfied the investor's 1033 exchange requirements and met their long-term investment objectives," said Galvani of PCG.
The seller, AMB Property Corporation, was represented by Peter Joseph, managing director of Eastdil Secured.
PCG is a leading provider of commercial real estate services including, tenant and landlord representation, investment sales, property and asset management, development and construction management, advisory and distressed asset advisory services. With a portfolio of over 2 million square feet, PCG is one of the largest owners of real estate within the Suburban Boston market. For more information, please visit our website at www.pcg‐ma.com