Marcus Partners Assembles Greater Boston Light Industrial Portfolio
Marcus Partners has announced the acquisition of a new light industrial portfolio in the Greater Boston area as part of its strategic initiative to target well-located, functional multi-tenant properties. The portfolio includes properties at 275 and 330 Hopping Brook Road in Holliston and 77 Accord Park Drive in Norwell, totaling 168,480 square feet spread across six buildings.
“We see significant appeal in light industrial properties that present an opportunity to be updated and tailored to meet modern tenant needs,” said Chris Legocki, Senior Vice President of Investments at Marcus Partners. “Our strategy capitalizes on strong demand for smaller-scale industrial spaces of institutional quality and caters to location-sensitive, regional industrial tenants that are underserved by new construction supply and often displaced by redevelopment of infill light industrial properties for alternate uses.”
The properties at 275 and 330 Hopping Brook Road in Holliston are fully leased to a total of 10 tenants. The acquisition was financed by Cambridge Savings Bank.
Meanwhile, 77 Accord Park Drive in Norwell is currently 78% leased with 13 tenants. This acquisition was completed in partnership with joint venture partner Rhino Capital and financed by Middlesex Savings Bank.
