National DCP has completed a $25.5 million sale and leaseback of 150 Depot St. in Bellingham, a 252,600-square-foot warehouse and distribution center.
Bentall Kennedy LP advised the institutional investor, 150 Depot ILP LLC of San Francisco.
CBRE/NE’s Dave Pergola, Brian Doherty and Robert Gibson represented the seller, National DCP, and procured the buyer.
The property was originally developed for National DCP in 2005 and remains a significant distribution center, according to a statement. The company has committed to a long-term lease at the facility which contains dry storage as well as freezer/cooler space with 30-foot clear heights.
National DCP provides sourcing and distribution of supplies for Dunkin’ Donuts franchisees.