This Littleton distribution center sold in 2018 in a two-property deal for $87.65 million, using financing from State Farm Insurance. Community banks say they have been able to hold their own against national lenders like State Farm. Photo courtesy of JLL

Industrial properties in eastern Massachusetts continue to be in high demand among commercial real estate investors, with the acquisition of a two-building portfolio as the latest example.

Dallas-based L&B Realty Advisors LLP has acquired 1 Distribution Center Circle in Littleton and 154 Campanelli Drive in Middleborough on behalf of an institutional client for $87.65 million.

Both buildings are 100 percent leased, with the 275,000-square-foot Middleborough property occupied by a single tenant. The 480,000-square-foot Littleton property is fully leased to six tenants.

JLL’s capital markets team secured a $36.35-million loan from State Farm Life Insurance for the two 32-foot clear height warehouse and distribution centers.

JLL Senior Vice President Robert Borden and Executive Vice President Heather Brown led the financing team.

“This fixed-rate financing is backed by fully-leased, Class A buildings with secure and durable rent rolls in a fundamentally solid industrial market and was secured on behalf of an exceptionally strong institutional sponsor,” Borden said in a statement. “After assessing several competitive proposals, the life insurance company was able to provide the most compelling long term financing package for the asset.”