Boston-Area Class A Manufacturing Facility Trades in $31.4 Million in Sale-Leaseback Deal – Boston Real Estate Times

BOSTON – JLL Capital Markets introduced that it has closed the $31.4 million sale-leaseback of the 85,000-square-foot, state-of-the-art manufacturing facility at 220 Hopping Brook Rd. within the Boston-area suburb of Holliston, Massachusetts.

JLL marketed the property on behalf of the vendor, Internet Industries, who executed a 10-year sale-leaseback at market hire upon sale. Lincoln Property Firm, in partnership with Stockbridge, acquired the asset by way of a really aggressive bidding course of.

220 Hopping Brook Rd. was initially constructed by Internet Industries and has been their larger Boston dwelling for greater than 20 years. Internet Industries is a 100% employee-owned firm and market-leading supplier of complete outsource manufacturing and precision changing companies within the aerospace, medical, private and residential care sectors. The constructing has served as a mission-critical a part of the tenant’s operation, and so they have invested important capital into its transition from a standard manufacturing facility right into a GMP-ready asset with BSL-2 lab area, dry rooms, mezzanine and extra.

Positioned on 13.47 acres, 220 Hopping Brook Rd. is effectively positioned inside Holliston’s premier industrial park. This location supplies quick access to each Interstates 495 and 90 and provides tenants within the park a deep bench of close by expertise from which to recruit. In recent times, the 495 Hall has turn into a scorching mattress for GMP and manufacturing customers, because the shift from conventional R&D demand to manufacturing has created an unprecedented quantity of tenant demand necessities.

The JLL Capital Markets Funding Gross sales Advisory group was led by Senior Director’s Michael Restivo and Martha Nay and Director Lenny Pierce, with help from JLL Brokerage’s Managing Director Neil Ross.

“This was a wonderful alternative for Lincoln to accumulate a Class A producing facility, whereas Internet Industries was capable of money in on a scorching industrial market to reinvest a refund into their core manufacturing enterprise,” Restivo mentioned.

JLL Capital Markets is a full-service international supplier of capital options for actual property traders and occupiers. The agency’s in-depth native market and international investor data delivers the best-in-class options for purchasers — whether or not funding gross sales and advisory, debt advisory, fairness advisory or a recapitalization. The agency has greater than 3,000 Capital Markets specialists worldwide with workplaces in almost 50 nations.

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