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Boston-based STAG Industrial has picked up a pair of leased industrial buildings in Hudson and Sterling for $28.5 million following a “heated bidding process,” according to the brokerage that arranged the sale.
The acquisitions comprise 247,056 square feet at 4 Robert Bonazzoli Road in Hudson and 15 Chocksett Road in Sterling.
The Hudson property, which sold for $15.2 million, is 100-percent leased to Communications & Power Industries (CPI).
15 Chocksett Road in Sterling includes 119,056 square feet of space leased to Keystone Automotive Operations for a warehouse. The property was completed in 2016 and includes 40-foot ceiling clearance and 51 loading doors.
CBRE marketed the properties on behalf of seller Lowfield Realty Group.
“The hotly contested bidding process speaks to the strength of the industrial investment market in Greater Boston,” CBRE’s Scott Dragos said in a statement.
STAG Industrial is a publicly-traded REIT that focuses on single-tenant industrial properties, and owns a portfolio of 501 buildings totaling 100.1 million rental square feet as of June 30.
