Photo courtesy of Cushman & Wakefield
A three-building portfolio of industrial buildings and additional development sites in Boston’s Readville neighborhood have been acquired by Intercontinental Real Estate for $107.5 million.
The Yard 5 portfolio includes 195,000 square feet of warehouse, flex and R&D space and is currently 100-percent leased. The transaction also includes a pair of land parcels spanning seven acres near the MBTA’s Readville station.
Cushman & Wakefield represented the seller and original developer, First HIghland Management & Development.
The property was used as a rail yard for more than 100 years, including a midday layover station for the MBTA’s commuter rail, before First Highland began redevelopment plans in 2014.
In December 2021, Dedham-based First Highland submitted a notice of project change to the Boston Planning and Development Agency reducing the size of the project by 87,585 square feet to 287,415 square feet in six buildings.
