JLL Capital Markets completes $31 million sale-leaseback of Class A manufacturing facility in Holliston, MA to Lincoln Property Co. and Web Industries

 

Martha Nay 

 

BOSTON, MA – JLL Capital Markets closed the $31.4 million sale-leaseback of the 85,000-square-foot, state-of-the-art manufacturing facility at 220 Hopping Brook Rd. in the Boston-area suburb of Holliston, Massachusetts.  

 Michael Restivo

 JLL marketed the property on behalf of the seller, Web Industries, who executed a 10-year sale-leaseback at market rent upon sale.

The JLL Capital Markets Investment Sales Advisory team was led by Senior Director’s Michael Restivo and Martha Nay and Director Lenny Pierce, with support from JLL Brokerage’s Managing Director Neil Ross.

 “This was an excellent opportunity for Lincoln to acquire a Class A manufacturing facility, while Web Industries was able to cash in on a hot industrial market to reinvest money back into their core manufacturing business,” Restivo said.

Lenny Pierce

Lincoln Property Company, in partnership with Stockbridge, acquired the asset through a very competitive bidding process.

220 Hopping Brook Rd. was originally built by Web Industries and has been their greater Boston home for more than 20 years.

Web Industries is a 100% employee-owned company and market-leading provider of comprehensive outsource manufacturing and precision converting services in the aerospace, medical, personal and home care sectors.

Neil Ross

The building has served as a mission-critical part of the tenant’s operation, and they have invested significant capital into its transition from a traditional manufacturing facility into a GMP-ready asset with BSL-2 lab space, dry rooms, mezzanine and more.

 Positioned on 13.47 acres, 220 Hopping Brook Rd. is well located within Holliston’s premier industrial park.

This location provides easy access to both Interstates 495 and 90 and gives tenants in the park a deep bench of nearby talent from which to recruit.

 In recent years, the 495 Corridor has become a hot bed for GMP and manufacturing users, as the shift from traditional R&D demand to production has created an unprecedented amount of tenant demand requirements.

 

CONTACT:

Kimberly Steele

PR, Capital Markets

Agency Leasing and

 Valuation Advisory 

JLL

T +1 713 852 3420

M +1 832 244 9994

JLL.com

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