Bellingham, MA CBRE/New England’s Capital Markets and Industrial teams completed the sale of 150 Depot St., a 252,600 s/f class A warehouse and distribution facility, for $25.5 million. CBRE/NE’s Dave Pergola, Brian Doherty and Robert Gibson represented the seller of the property, National DCP, and procured the buyer, an institutional investor advised by Bentall Kennedy (U.S.) LP.
The property was originally developed for National DCP in 2005 and continues to represent a significant location for the distribution company today. Following the sale of the asset, National DCP has committed to a long-term lease at the property. Located near I-495, the facility provides easy access to both I-90 (Mass Pike) and 95 and features a combination of dry storage and freezer/cooler space.
The asset includes modern specifications and infrastructure with 30’ clear height and ESFR sprinklers throughout the warehouse portion of the building.
CB Richard Ellis – N.E. Partners, LP, a joint venture with CBRE Group, Inc. has offices in Massachusetts, Connecticut, Rhode Island, Maine and New Hampshire. Please visit our website at www.cbre-ne.com. CBRE Group, Inc., a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (in terms of 2015 revenue). The company has approximately 70,000 employees (excluding affiliates), and serves real estate owners, investors and occupiers worldwide. CBRE offers strategic advice and execution for property sales and leasing; corporate services; property, facilities and project management; mortgage banking; appraisal and valuation; development services; investment management; and research and consulting.
