Holliston, MA JLL Capital Markets has closed the $31.4 million sale-leaseback of the 85,000 s/f, manufacturing facility at 220 Hopping Brook Rd.
JLL marketed the property on behalf of the seller, Web Industries, who executed a 10-year sale-leaseback at market rent upon sale. Lincoln Property Company, in partnership with Stockbridge, acquired the asset through a very competitive bidding process.
220 Hopping Brook Rd. was originally built by Web Industries and has been their greater Boston home for more than 20 years. Web Industries is a 100% employee-owned company and market-leading provider of comprehensive outsource manufacturing and precision converting services in the aerospace, medical, personal and home care sectors. The building has served as a mission-critical part of the tenant’s operation, and they have invested significant capital into its transition from a traditional manufacturing facility into a GMP-ready asset with BSL-2 lab space, dry rooms, mezzanine and more.
Positioned on 13.47 acres, 220 Hopping Brook Rd. is well located within Holliston’s premier industrial park. This location provides easy access to both I-495 and I-90 and gives tenants in the park a deep bench of nearby talent from which to recruit.
The JLL capital markets investment sales advisory team was led by senior directors Michael Restivo and Martha Nay and director Lenny Pierce, with support from JLL brokerage’s managing director Neil Ross.
“This was an excellent opportunity for Lincoln to acquire a class A manufacturing facility, while Web Industries was able to cash in on a hot industrial market to reinvest money back into their core manufacturing business,” Restivo said.