Boston – On behalf of a joint venture partnership between Wallace Property and GFI Partners, CBRE/New England’s Debt & Structured Finance team secured $11 million in acquisition/capital improvement financing for Boston Business Park – Building 200, a ±205,061 SF industrial building located at 100 Meadow Road in Readville, MA.
CBRE/NE’s John Kelly, Kyle Juszczyszyn, Chris Coutts and Lenny Pierce secured the financing. “It was a pleasure working with our client to secure the financing for this transaction,” stated CBRE/NE’s Kelly. “We were able to secure attractive, long-term low-rate debt that matched our client’s business plans.”
“We are excited to add another industrial asset to our portfolio,” added GFI Partners’ Steve Goodman. “Industrial properties with this level of spatial capacity and rail access are rare so close to Boston’s urban core.”
“We believe that this strategic long-term hold will be a big success for us and our partners,” noted Wallace Property’s Rob Wallace.
Boston Business Park is the future home to M.S. Walker, ABEX Transportation and Katsiroubas Bros. These tenants join a tenant roster that currently includes HD Supply, The Ride (operated by the Mass Transportation Association), Gentle Giant Moving and MFI Tire Wholesale. Located at 100 Meadow Road, Building 200 offers tenants excellent access to Interstates 90, 93, 95 and the surrounding major markets. Most notably, it has direct CSX rail access with three rail-side doors and outside loading for five rail cars.