J
LL Capital Markets has completed the sale of 151 Charles F. Colton Road, a 198,720-square-foot Class A distribution center in Taunton, Massachusetts. The property was sold by a fund managed by Brookfield Asset Management to an Ares Management Real Estate fund.
The facility, built in 2014, boasts state-of-the-art features including 28-foot clear heights and ESFR fire protection. It is fully leased to a leading tire and automotive service company in New England. Located just outside Boston, the property benefits from its position in one of the most densely populated regions in the US, with access to over 5 million people within a 40-mile radius.
The JLL Investment Sales and Advisory team, led by Michael Restivo and David Coffman, facilitated the sale. According to Restivo, "This sale offered a rare opportunity to acquire a modern distribution facility in the thriving Greater Boston industrial market." The property's strategic location, high-quality tenant, and strong rent growth potential make it an attractive investment opportunity in a supply-constrained market.
