Photo courtesy of CBRE

In its second big-ticket Bay State transaction this month, Blackstone’s Link Logistics paid $175 million for six suburban Massachusetts industrial properties.

The portfolio spans 802,194 square feet and is 100 percent leased to eight tenants, according to brokerage CBRE which represented seller AEW Capital Management. Tenants have an average 6.3 years remaining on their leases with rents that are 36.2 percent below-market amid rising demand for warehouse and distribution space.

The properties include 12 Forge Parkway in Franklin, 150 Dascomb Road in Andover, 25 Industrial Way in Wilmington, 65 Sunnyslope Ave. in Tewksbury, 82 South St. in Hopkinton and 19 Technology Drive in Auburn.

Link Logistics invested another $153.5 million in Massachusetts industrial properties on Oct. 13 with its acquisition of a pair of Amazon-leased warehouses at 330 and 350 Bartlett St. in Northborough.

“The Boston industrial market continues to hit on all cylinders with record-setting leasing fundamentals acting as a magnet for some of the nation’s largest capital sources,” CBRE Senior Vice President Chris Skeffington said in a statement.

Blackstone Gobbles Up Six Leased Properties for $175M

by Steve Adams time to read: 1 min