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The Davis Companies sold an Amazon-leased last-mile distribution center to an institutional investor for $155.4 million following redevelopment of the Everett property.

The Boston-based developer acquired the 18-acre former produce wholesalers’ warehouse property known as the Boston Market Terminal in 2019 for $28.5 million.

After gaining approval to demolish the 69,200 square-foot warehouse and completion of a 221,800 square-foot last-mile distribution center, Davis Companies sold the 34 Market St. property on March 27 to a Brookfield Property Partners affiliate for $155.4 million.

PNC Bank provided an $84 million mortgage for the March 27 transaction.

In 2024, The Davis Companies unveiled its master plan proposal for the nearby Docklands Innovation District, a mixed-use redevelopment of the 100-acre former Exxon Mobil oil tank farm adjacent to the Market Street distribution center.

The first phase of the project includes a 16-acre battery storage facility for Jupiter Power, which received approval from the state Energy Facilities Siting Board in February.