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Braintree Industrial Properties Trade for $77.5M

Dec 21, 2023 | Reprints | Unlock Link

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Photo courtesy of Google Maps

A pair of Braintree industrial properties were sold to an affiliate of Westbrook Partners in a $77.5 million transaction.

The seller, New York-based Angelo, Gordon & Co., paid $55 million for the properties in November 2020.

The transaction includes a 494,520-square-foot warehouse on a 21-acre parcel at 175 Campanelli Drive, and a 3.6-acre development parcel at 185 Campanelli Drive.

The vacancy rate in the 31.2 million-square-foot Route 128 South industrial submarket was 7.8 percent at the end of the third quarter, according to data from Colliers.

Average asking rents were $13.80 per square foot on a triple-net basis.

B&T Daily