**Hines Acquires Upton Crossing in Wilmington, MA for $73 Million**
Hines Global Income Trust has acquired Upton Crossing, a warehouse and distribution campus located in Wilmington, Massachusetts, for $73 million. This purchase is part of a broader $309 million transaction involving several East Coast properties from The Davis Companies.
Upton Crossing consists of two buildings totaling 215,000 square feet. Approximately 81% of the space is currently leased to a global third-party logistics provider, a medical device company, and a snack food manufacturer. The facility boasts a strategic location with direct access to major highways, including I-93, and is near I-95, I-495, Downtown Boston, and Logan International Airport.
David Allen, Senior Vice President at The Davis Companies, commented on the transaction:
“For Davis, the priority is always to secure good sites, build quality buildings, and lease to strong tenants. The ultimate reward is a sale to an owner who values the durable cash flows we create in the best-of-class buildings we construct. We are grateful to our partners, leasing teams, and Eastdil Capital Markets for helping execute this sale, which we believe will be a valuable investment for Hines.”
This acquisition underscores Hines’ ongoing strategy to expand its industrial real estate footprint along the East Coast.
