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Davis Cos. Expands Industrial Portfolio with $28.6M Acquisition

By Steve Adams | Banker & Tradesman Staff | Dec 9, 2020 | Reprints | Unlock Link

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Image courtesy CBRE

Boston-based Davis Cos. is adding to its industrial portfolio with the $28.6 million purchase of a DHL-leased warehouse in Bristol County.

The 181,900-square-foot 530 John Hancock Road is located on an 11.3-acre parcel in the 810-acre Myles Standish Industrial Park.

Completed in 2002, the facility features 32-foot clear heights and two-sided loading that provides for multi-tenant use. DHL Supply Chain currently leases the entire building.

CBRE’s capital markets team represented seller Invesco Real Estate.

In a statement, Davis Cos. Chief Invesment Officer Quentin Reynolds said the developer continues to seek potential industrial acquisitions.

Davis Cos. also is tapping into demand for last-mile distribution space near Boston with plans to build a 221,800-square-foot e-commerce center at 34 Market St. on the Chelsea-Everett line, a produce distribution hub that it acquired in 2019 for $28.5 million.

B&T Daily