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| Matt Sherry |
BOSTON, MA – JLL announced it has
closed the $19.35 million sale of and arranged $13.32 million in acquisition
financing for 45 Holton St., a 180,000-square-foot, fully leased industrial
warehouse building in the Boston-area community of Winchester, Massachusetts.
JLL represented the seller, JG Holt Limited
Partnership, and procured the buyer, a partnership between Boston-based firms
Bain Capital Real Estate (BCRE) and Oliver Street Capital, in an off-market
transaction.
Additionally, working on behalf of the new
ownership partners, JLL facilitated debt financing for the transaction with
Harbor One Bank.
 |
| Christopher Decembrele |
Situated on 9.7 acres, 45 Holton St. is located
on the Winchester-Woburn line less than 10 miles from Boston and nine miles
from Cambridge.
The property has convenient access to multiple
major suburban Boston highways, including Interstates 95 and 93 and Route 3.
45
Holton St. is in the established Wilmington/Winchester Industrial submarket,
which has experienced diminishing supply and growing demand in recent years. 45
Holton St. is fully leased to two tenants, Tighe Logistics Group and Archive
America.
The building features a clear height of 26 feet,
33 loading docks, two drive-in doors and 10% office finish.
 |
| Jamey Lipscomb |
“We’re excited to add 45 Holton to our
portfolio, and it’s a great fit for our partnership with BCRE,” said Oliver
Street Capital Managing Principal Jon O’Donnell.
“45 Holton is a highly functional industrial
building with scale, which is difficult to find this close to Boston,” added Jon
Hyde, managing principal at Oliver Street. “The JLL team did a great job
helping us execute.”
The Sales and Leasing team representing the
seller included Senior Director Matt Sherry; Managing Directors Jamey
Lipscomb, Chris Decembrele and Chris Lawrence; and Assistant Vice President
Zach Gramlich.
 |
| Chris Lawrence |
The Capital Markets debt placement team
representing the borrower was led by Senior Director Brett Paulsrud and
Associate Sam Campbell.
“With an in-depth knowledge of the required
thresholds of each party, the team was able to structure an off-market sale,
which resulted in a great outcome for both buyer and seller,” Lipscomb said.
“It was even more satisfying to execute the sale
and financing through challenging macro-economic conditions. The seller’s legal
team at Nutter McClennen & Fish and the buyer’s team at Seyfarth Shaw are
also to be commended for their facilitation of the sale.”
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| Zach Gramlich |
JLL Capital Markets is a full-service global
provider of capital solutions for real estate investors and occupiers.
The firm's in-depth local market and global
investor knowledge delivers the best-in-class solutions for clients — whether
investment advisory, debt placement, equity placement or a recapitalization.
The firm has more than 3,700 Capital Markets
specialists worldwide with offices in nearly 50 countries.
For more news, videos and research
resources on JLL, please visit the firm’s U.S. media center Web page: U.S. newsroom.
About JLL:
JLL (NYSE: JLL) is a leading professional
services firm that specializes in real estate and investment management.
 |
| Brett Paulsrud |
JLL shapes the future of real estate for a
better world by using the most advanced technology to create rewarding
opportunities, amazing spaces and sustainable real estate solutions for
our clients, our people and our communities.
JLL is a
Fortune 500 company with annual revenue of $18.0 billion, operations in over 80
countries and a global workforce of more than 93,000 as of December 31, 2019.
JLL is the brand name, and a registered
trademark, of Jones Lang LaSalle Incorporated. For further information,
visit jll.com.
About Oliver Street Capital:
Oliver Street Capital is a Boston-based
commercial real estate investment firm focused on acquiring industrial
properties throughout Greater Boston.
 |
| Sam Campbell |
Oliver
Street’s principals have over 30 years of institutional commercial real estate
experience representing over $2 billion in total transactions.
The
Oliver Street team currently owns and operates more than one million square
feet of properties in Greater Boston and is led by its Co-Founders Jonathan
Hyde and Jonathan O’Donnell.
CONTACT:
Kimberly Steele
Senior Associate, Public Relations
JLL Capital Markets
9 Greenway Plaza, Suite 700
Houston, TX 77046
T +1 713 852 3420
M +1 832 244 9994
