Keogh of 128 CRE facilitates $7.7 million off-market sale of 10.25-acre IOS portfolio in Ayer and Devens to Realterm

 

 

Ayer, MA James Keogh of 128 CRE facilitated the $7.7 million off-market sale of two industrial outdoor storage (IOS) properties in Ayer and Devens, Mass., to Realterm. 128 CRE served as the sole broker in the transaction.

The two-property portfolio totals approximately 10.25 acres and includes 15 Westford Rd. in Ayer, a 3.5-acre site improved with an 8,200 s/f maintenance facility featuring four drive-through bays and an onsite fueling station, and 27 Cook St. in Devens, a 6.75-acre site improved with a 12,000 s/f maintenance facility featuring one drive-through bay.

The properties combine significant outdoor storage capacity with existing maintenance infrastructure and are located within the Western I-495 industrial market.

“Industrial outdoor storage properties with this combination of acreage and existing maintenance facilities are difficult to replicate in this market,” said Keogh. “The transaction had a series of challenging hurdles along the way, but through cooperation between all parties and a little creativity, we were able to work through them and get the deal across the finish line. It was a great transaction to be a part of, and we’re pleased with the outcome.”

The transaction adds to Keogh’s experience in the industrial outdoor storage sector. Keogh also previously brokered the sale of 223 Hartford Turnpike in Shrewsbury, Mass., another approximately nine-acre industrial outdoor storage property.

Keogh and 128 CRE are active throughout Greater Boston and Massachusetts, advising owners, investors and users on the acquisition, disposition and leasing of industrial properties, including industrial outdoor storage, warehouse, manufacturing and flex assets.

Further terms of the sale were not disclosed.