Image courtesy of CBRE

A Boston developer has acquired a nearly 256,000-square-foot suburban industrial portfolio leased to tenants including Tesla, Aramark and Bimbo Bakeries.

Boston-based Oliver Street Capital and Bain Capital paid $55 million for the 93 North Industrial Portfolio which includes four buildings at 220, 230, 234 and 240 Ballardvale St. in Wilmington, in the latest in a series of joint ventures for industrial properties in Greater Boston. The Wilmington properties are 88 percent leased.

CBRE represented the seller, Carlisle Capital, which owned the property for more than 20 years, and the buyers.

“Carlisle Capital has a long history of outstanding management of the 93 North Portfolio over their 20 plus years of ownership, and the bidding process was very competitive,” CBRE Executive Vice President Scott Dragos said in a statement. “The assets were perfectly positioned to capitalize on the rising demand for industrial space in the greater Boston region.”

The Greater Boston industrial vacancy rate hit a historic low in the third quarter after recording 944,175 square feet of positive absorption, according to CBRE research. The Metro North industrial market had 303,120 square feet of positive absorption, as the vacancy rate decreased 0.6 percent to 4.9 percent. Average asking rents for Metro North industrial space were $10.43 per square foot, the highest of all Boston suburban industrial submarkets.