Chicago firm buys Boylston distribution site for $90M

A Chicago-based investment management firm has purchased a 396,375-square-foot distribution site developed by Wakefield-based NorthBridge Partners for $90.25 million. 

The site, located at 80 Pine Hill Drive, was sold on Friday, according to real estate data firm CoStar. NorthBridge developed the site in 2022 as a multi-tenant distribution facility.

LaSalle Investment Management operates as an independent subsidiary of real estate firm JLL, also based in Chicago. It invests and manages capital for institutional clients through real estate equity, debt, public securities, and related investment strategies across property types including industrial, residential, office and retail.

The main tenant at the site is Ohio-based Cardinal Health, with the site replacing the company’s former Bedford facility and serving customers across New England and eastern Connecticut, according to a 2024 announcement from Cardinal. The company occupies about 317,000 square feet at the Boylston site. 

The site contains 92 docks and four drive-in bays, according to CoStar. Construction began in 2021 and was completed the following year. 

NorthBridge Partners is a real estate investment firm specializing in industrial and logistics properties, with a strategy centered on acquiring, modernizing and developing warehouse facilities near major population centers. 

NorthBridge purchased the site of Table Talk Pies’ new factory in Worcester for $50 million in 2024.

Distribution sites in Central Massachusetts have been in high demand; in 2025, a logistics site in Uxbridge sold for $120 million to a Boston-based private equity firm.

Chris Skeffington, Daniel Hines, Roy Sandeman, and Scott Dragos of Boston-based CBRE served as the listing brokers, while Michael Restivo, David Coffman, and Tommy Hovey of JLL’s Boston office represented the buyer.

The Boylston site received a 2026 assessment of $24 million, according to Town of Boylston property records. 

Eric Casey is the managing editor at Worcester Business Journal, and primarily covers the real estate and banking & finance industries.