Boston, MA – Cushman & Wakefield announced today that the real estate services firm has arranged the sale of Yard 5, a three-building industrial portfolio totaling 196,000 square feet located on Industrial Drive in Boston. The sale price was $107,500,000.
Cushman & Wakefield’s Dave Pergola, Brian Doherty and Pete Rogers, with help from local leasing specialists Rob Byrne and Jim Murphy, represented the seller, First Highland Management & Development, in the transaction. The property was acquired by Intercontinental Real Estate Corporation.
“Yard 5 features best-in-class new construction that allows for a myriad of uses including warehouse, flex and R&D,” said Doherty. “The transit-oriented portfolio is well-positioned to capture rental growth upside and is currently 100% leased to a diverse and strong credit rent roll.”
Yard 5 consists of three buildings totaling 196,000 square feet of high-bay industrial and research space featuring 28-foot clear heights. In addition to the three existing buildings, the portfolio includes two land parcels totaling approximately 7 acres.
Yard 5 is located at the MBTA’s Readville station just south of Boston with convenient access to Interstate 95 and Route 128, providing easy connection to all Greater Boston major thoroughfares.
A photo of the asset can be downloaded here.