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R.J. Kelly Sells Amazon Last-Mile Center for $52M

By Steve Adams | Banker & Tradesman Staff | Jan 21, 2022 | Reprints | Unlock Link

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Image courtesy of Google Maps

After redeveloping a Worcester industrial property into last-mile distribution space for Amazon, Burlington-based R.J. Kelly Co. has sold the 176,000-square-foot facility to Tritower Financial Group for $52 million.

The project at 125 Goddard Memorial Drive was completed in 2021 and upgraded building and loading systems to accommodate the e-commerce leader. The property is located approximately a mile from Worcester Regional Airport and four miles from Interstate 290.

R.J. Kelly acquired the property in September 2020 for $7.2 million, according to data compiled by The Warren Group, publisher of Banker & Tradesman.

Newmark’s capital markets team represented the seller and procured the buyer.

“RJ Kelly’s redevelopment of 125 Goddard Memorial Drive created a first-class, ‘like-new’ asset,” Newmark Executive Managing Director Matthew Pullen said in a statement.

B&T Daily