The corporate broke floor on a 412,500-square-foot facility in East Bridgewater, Mass.
Greystar Actual Property Companions has began development on a 412,500-square-foot industrial venture in East Bridgewater, Mass. Public data present Greystar acquired the 46-acre growth web site for $22.3 million from Rhino Capital Advisors. Completion is anticipated in late 2023.
The warehouse will come on-line at 798 N. Bedford St. The event was designed to characteristic 36-foot clear top, 57 loading docks and a few 340 automobile and trailer parking areas. JLL will present leasing and advertising and marketing companies on the future facility.
The location is simply west of Route 18, offering entry to Boston’s South Shore. Fall River Expressway is a few 5 miles west.
The East Bridgewater property represents Greystar’s entry into the Higher Boston industrial market, including to the corporate’s $2 billion pipeline of logistics initiatives. The brand new possession is about to increase its industrial footprint and meet the world’s rising demand for industrial area.
In line with a latest CommercialEdge report, Boston’s industrial sector’s emptiness price was at 8.5 p.c as of August, whereas practically 6.2 million sq. ft of business area had been beneath development throughout the metro. Earlier this 12 months, Atlantic Administration secured $96.5 million in financing for 2 industrial property in Westborough, Mass., totaling roughly 500,000 sq. ft. Amazon totally occupies the primary constructing and can increase its footprint to the second growth, a build-to-suit venture.
