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Methuen Industrial Properties Sold for $64.1M

Nov 6, 2020 | Reprints | Print

A pair of Methuen warehouses leased to Shaw’s Supermarkets and McCollister’s Transportation Group have been acquired by Starwood Capital Group for $64.1 million.

The transaction includes 100 Danton Drive, a 291,400-square-foot cold storage facility completed in 1985 and leased to Shaw’s through October 2022, and 200 Danton Drive, a 70,872-square-foot facility built in 1989 and leased to McCollister’s. The sites also include an additional 135 acres of land.

CBRE’s Scott Dragos, Douglas Jacoby, Chris Skeffington and Daniel Hines represented the seller, Equity Industrial Properties.

“This transaction highlights the strong desire for industrial real estate from institutional investors despite headwinds created by the pandemic. Supply and demand metrics have remained strong throughout the past seven months and given investors even more confidence in the future of the asset class in Greater Boston and beyond,” Dragos said in a statement.

B&T Daily