64 Research Drive/Image courtesy of Marcus Partners

Boston-based Marcus Partners completed the sale of a pair of suburban logistics properties that it developed in Haverhill and Taunton to an institutional fund.

The “Core Two” portfolio includes two fully leased buildings that were acquired by Ares Real Estate: 20 Constitution Drive in Taunton’s Myles Standish Industrial Park and 64 Research Drive in Haverhill.

Marcus Partners developed the Taunton property on the site of a former office building, which it acquired in 2021 for $2.8 million, and rezoned for construction of an 88,000-square-foot high-bay facility that it leased to an e-commerce tenant.

64 Research Drive is a 104,380-square-foot facility fully leased to Crane Worldwide.

Marcus Partners has sold $488 million in industrial and multifamily properties since mid-2023.

“These investments were made prior to a historic run-up in interest rates, providing further evidence that our value-add strategy works across cycles and rate environments,” Marcus Partners Chief Investment Officer Ryan McDonough said in a statement.

Chris Skeffington from CBRE represented Marcus Partners on the Taunton and Haverhill transactions.