BOSTON – November 26, 2018 – MARCUS PARTNERS, a value-oriented real estate investment management and development firm, today announced the completion of its largest industrial acquisition to date in partnership with NORTHBRIDGE PARTNERS. The closing of 192 Mansfield Avenue in Norton, MA on November 20th represents the final property to be acquired as part of the Northeast Logistics Portfolio, which included three other properties that closed in early October. Those properties were 100 Adams Road in Clinton, MA and 525 Campanelli Drive and 1010 West Chestnut Street both located in Brockton, MA.
The properties are well-located providing excellent access to Greater Boston’s highway systems and population centers, facilitating seamless “last-mile” distribution. The buildings offer efficient layouts with generous column spacing, ample car and trailer parking, and desirable loading capacity. The size of the tenant spaces within the portfolio varies significantly, providing an ability to accommodate a broad spectrum of tenant requirements.
“The warehouse/distribution sector is rapidly expanding and this acquisition positions us well to provide space to this supply-constrained market that continues to demonstrate strong tenant demand,” said Ryan McDonough, Marcus Partners’ Boston Regional Director. “This portfolio provides an attractive balance of secure in-place cash flow with an opportunity to create value through lease-up, renovation, and/or expansion of the assets, and advances our goal of increased exposure to the Boston market.”
Greg Lauze, Managing Partner of NorthBridge Partners added, “We are excited to partner with Marcus Partners and look forward to collaborating with their team to continue to actively improve the assets and create further value.”
Marcus Partners and its affiliates have completed 12 warehouse/distribution acquisitions to date. The firm’s current fund, Marcus Capital Partners Fund II, LP, invests in office, medical office, research and development, multifamily, warehouse, and industrial properties, primarily along the East Coast. It currently owns and / or manages a diversified portfolio that includes over 7 million square feet along the East Coast.Back to All News