Fully leased, two-year-old Bellingham warehouse sells for $96.7M
Photo | Newmark
Bellingham Distribution Center at 160 Mechanics St. is fully-leased to TriMark USA as of August 2021.
A 345,000-square-foot industrial distribution facility in Bellingham with a full-building lease sold for $96.7 million in late April, according Newmark, whose Boston team brokered the sale.
Located at 160 Mechanic St., the Bellingham Distribution Center was built in 2020 without a signed tenant. In August 2021, it was fully leased to Mansfield-based TriMark USA, the country’s largest restaurant supply and food provider.
The 60-acre distribution center is nestled among several other valuable industrial properties, including two Amazon distribution warehouses which sold for $93 million May 2021.
The property was bought by LaSalle Investment Management, based in Chicago.
It was sold by Barings LLC, an North Carolina-based investment management firm owned by Massachusetts Mutual Life Insurance Co. Barings bought the property in 2019 for $3.3 million. It is now assessed at $44.4 million by the Town of Bellingham.
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