An industrial outdoor storage joint venture between Sagard Real Estate and La Caisse has acquired 3 Wheeling Ave., a low-coverage industrial property in Woburn, MA. The transaction involves an established IOS-focused partnership, but the parties did not disclose the seller or the sale price. The asset falls within the industrial sector and expands the joint venture’s portfolio in a key New England logistics location.
The property is situated in one of Greater Boston’s most established industrial areas, an environment characterized by limited land availability and zoning constraints. These market conditions help support the value of low-coverage industrial sites, particularly those that can accommodate outdoor storage. The site benefits from strong regional transportation connectivity near the intersection of Interstates 95 and 93, providing access to major highway corridors serving the broader Boston metropolitan area.
Originally built in 1984, the building totals 57,600 square feet of industrial space and is configured with additional yard area that supports outdoor storage. The facility is fully leased to a national building materials distributor that uses the site for warehousing, distribution, and operational purposes. The combination of indoor warehouse space and significant yard area positions the asset to handle building materials and related industrial uses that require both covered and uncovered storage.
Belah Terentjev, director of acquisitions at Sagard Real Estate, noted that Woburn’s limited land availability and restrictive zoning elevate the importance of low-coverage warehouse properties that are entitled for outdoor storage. Terentjev highlighted that 3 Wheeling Ave. blends warehouse functionality with substantial outdoor storage capacity and immediate access to major transportation corridors. According to Terentjev, these features align with the joint venture’s strategy, which centers on investing in established infill industrial markets where replacement of similar product is challenging.
The acquisition underscores investor interest in industrial outdoor storage assets that pair functional warehouse improvements with ample yard space in supply-constrained submarkets. With the property fully leased to a national distributor and supported by regional connectivity, the Woburn asset fits the profile of infill industrial locations that appeal to users needing both distribution and equipment or materials storage. While financial terms remain undisclosed, the transaction highlights ongoing institutional participation in specialized industrial segments such as IOS.
