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News:
Owners Developers & Managers
Posted: March 11, 2022
Newmark handles $52 million sale of 125 Goddard Memorial Dr.
Worcester, MA Newmark completed the $52 million sale of 125 Goddard Memorial Dr., a “last-mile” distribution facility. Newmark co-head of U.S. Capital Markets Robert Griffin, vice chairman Edward Maher, executive managing directors Matthew Pullen and Tony Coskren and managing directors Samantha Hallowell and Brian Pinch of the firm’s Boston Capital Markets Group represented the seller, RJ Kelly, and procured the buyer, Tritower Financial Group. Newmark vice chairman J.R. McDonald provided leasing expertise.
Totaling 176,000 s/f, 125 Goddard Memorial Dr. was fully redeveloped in 2020 and 2021 with extensive building, loading, system and site improvements.
“RJ Kelly’s redevelopment of 125 Goddard Memorial Dr. created a first-class, ‘like-new’ asset,” said Pullen. “This enabled it to secure a full-building lease with a major e-commerce company.”
125 Goddard Memorial Dr. is located south of the Worcester Regional Airport and less than four miles from I-290, providing the asset with regional connectivity.
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