Link Logistics buys $68M in Central Mass. properties as part of six-property portfolio deal
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The property at Forge Parkway in Franklin was one of six in a $175-million portfolio bought by Link Logistics.
Link Logistics Real Estate, a branch of New York real estate company Blackstone Real Estate Advisors LP, has bought three Central Massachusetts properties for a total of $68.4 million as part of a six-property, $175-million portfolio purchase arranged by Boston commercial real estate brokers CBRE.
AEW Capital Management, L.P., also based in Boston, sold the six industrial facilities located in Franklin, Auburn, Hopkinton, Andover, Wilmington, and Tewksbury. The sale of the 802,200-square-foot portfolio closed in late October and was announced by CBRE in a press release on Oct. 26.
This latest Link Logistics’ purchase closed about two weeks after it bought two Amazon sorting centers in Northborough for $153 million.
The Franklin property, located at 12 Forge Parkway across from Tegra Medical LLC, sold for $49.5 million and is roughly 236,000 square feet. It was built in 1987, renovated in 2017, and last sold in 2019 for $20 million to AEW. It is assessed by the Town of Franklin at $16 million.
The 51,260-square-foot industrial warehouse at 19 Technology Dr. in Auburn sold for $6 million. Assessed by the Town of Auburn at $3 million, it is leased by Harrell’s LLC, a garden company, and Accelerated Media Technologies Inc.
Located at 82 South St., the Hopkinton property is 70,744 square feet and sold for $12.9 million. The industrial space, assessed by the town at $5.4 million, is leased by rubber manufacturer Hutchinson Aerospace and Industry.
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