 |
| Martha Nay |
BOSTON, NA – JLL Capital
Markets has closed the $21.7 million sale-leaseback and arranged $14.5
million in acquisition financing for a 120,000-square-foot industrial warehouse
and office building at 10 Trotter Dr. in the Boston-area community of Medway,
Massachusetts.
JLL marketed the property on behalf of
the seller, Spencer Technologies, Inc.
Lincoln Property Company acquired the asset
and entered into a long-term lease with the seller for them to continue to
occupy the property. Additionally, working on behalf of the new owner, JLL
placed the acquisition loan with HarborOne Bank.
 |
Amy Lousararian
|
Built in 1983, 10 Trotter Dr. is situated
on nine acres with 85,000 square feet of warehouse and 35,000 square feet of
newly renovated office space.
The
building offers clear heights ranging from 17 to 21 feet, three tailboard
docks, one ramped door, one drive-in door and ample parking.
 |
| Coler Yoakam |
The
property is fully occupied by the seller, a global IT solution and services
company founded in 1972 that uses the property as its global headquarters.
The JLL Capital Markets Investment Sales
and Advisory team that represented the seller was led by Managing Director Coler
Yoakam, Senior Directors Michael Restivo and Martha Nay and
Director Lenny Pierce, along with Managing Director Sean Lynch with
JLL’s Agency Leasing team.
“This was a great opportunity for Spencer
Technologies to take advantage of the sharp increase in industrial asset prices
and capitalize on a sale-leaseback transaction to help free up capital and
invest back into the business,” Restivo said.
The JLL Capital Markets Debt Advisory team
working on behalf of the new owner was led by Director Amy Lousararian.
 |
| Michael Restivo |
“The transaction’s
tenancy, location and sponsorship were well received by the local lending
community, and we are very pleased with the execution by HarborOne in this
competitive process,” Lousararian added.
About Spencer Technologies, Inc
Spencer is
a global IT solution provider servicing the retail marketplace. Founded in
1972, Spencer has grown to provide its retail clients holistic life cycle
services and solutions from it’s from its world headquarters in Medway,
Massachusetts.
About Lincoln Property Company
Lincoln Property
Company is an international real estate firm offering a
comprehensive suite of value-added services for their clients.
 |
Lenny Pierce
About JLL |
With its
substantial local presence in each of the markets Lincoln serves, the firm
ideally situates their offices to clientele: tenants, investors, lenders, and
owners of real estate. Their people and philosophy are the key ingredients for
Lincoln’s solid track record of success.
JLL
has over 215 dedicated multi-housing professionals in more than 30 markets
across the U.S.
JLL
Capital Markets is a full-service global provider of capital solutions for real
estate investors and occupiers.
 |
| Sean Lynch |
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 our newsroom.
Contact:
Kimberly
Steele,
JLL
Manager
Public Relations
Phone: +1 713 852 3420
Email: Kimberly.Steele@am.jll.com
