Investment Summary
| Property: | Acquired 100% occupied, 301 Page Street is a 119,000 SF single tenant warehouse/distribution property situated on 17.1 acres. |
| Pricing: |
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| Strategy: | Acquire a stable Class A warehouse asset with additional office and retail space well below replacement cost; located in a prime Boston sub-market. |
Opportunity / Highlights
- Off-market transaction acquired with a new 15 year lease providing investors 10% net annual cash yields
- Class A asset built for Boston Interiors in 2004 serves as its core warehouse and distribution center as well as its corporate headquarters and retail outlet; warehouse space has 36’ clear ceiling heights which is rare and in high demand in the greater Boston market
- Boston Interiors is a well-established regional brand with a 30 year history and has invested significant dollars in this location as its long term headquarters and main distribution center
- Immediate proximity to Route 24 and Route 95 provide easy access to major highways and their seven retail locations in the Boston area
- Quality of the asset, location and functionality provided significant buyer demand