Two MetroWest distribution centers sold for $79M
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Two industrial facilities were sold at Crossroads Industrial Park in Northborough and Marlborough to a California firm.
Two class-A warehouses in The Crossroads Industrial Park at 495 on the Marlborough-Northborough border sold for a combined $78.9 million on July 11, according to the Worcester District Registry of Deeds.
Both properties were sold by affiliates of TA Realty of Boston and developed by former owner The Gutierrez Co. of Burlington. The buyers were affiliates of LBA Logistics of Irvine, Calif., an investment firm focused on the ownership and operation of industrial buildings.
Hayes G, LLC, an affiliate of TA Realty of Boston, sold 150 Hayes Memorial Drive in Marlborough and Northborough for $31,350,000. The 167,000 square-foot facility was completed in 2020. The facility is leased in part to tire distributor Max Finkelstein.The buyer was LBA or Core-Company XXIII, LLC. TA Realty acquired the development site in 2019 for $1.3 million.
TA Realty affiliate 301 Bartlett Street, LLC sold a 220,100 square-foot facility at 301 Bartlett St. for $47.5 million. The buyer was LBA NCC-Company XXXIII, LLC. TA Realty acquired the development site in 2018 for $2.2 million. The property is leased to multiple tenants including molding manufacturer Metrie and Lowes Pro Supply.
The Crossroads Industrial Park is a 2-million square-foot logistics park. The Gutierrez Co. developed multiple large distribution centers at the site.
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