Newmark Knight Frank (NKF) announced today the successful completion of the $25.7 million sale of 150 Charles Colton Road in Taunton, Massachusetts. On behalf of TA Realty, Vice Chairman Edward Maher, Executive Managing Directors Matthew Pullen and James Tribble and Director Samantha Hallowell of NKF’s Boston Capital Markets team - which is led by Co-Head of U.S. Capital Markets Robert Griffin - oversaw the transaction in conjunction with NKF Executive Managing Directors Ed Jarosz, Rick Schuhwerk and Anthony Coskren and Managing Director Brian Pinch.
Totaling 200,000 square feet, 150 Charles Colton Road is presently 70 percent leased to Williams Sonoma as a furniture distribution center for its Pottery Barn, Pottery Barn Kids, PBteen, West Elm and Rejuvenation brands. Completed in 2016, the asset features state-of-the-art physical infrastructure including 32-foot clear heights, 40-foot by 47.5-foot column spacing, 45 loading docks, one drive-in door, ESFR sprinklers, 250 car parking spaces and 18 trailer storage spaces.
“150 Charles Colton Road represents a prime ‘last-mile’ logistics hub within an unmatched ‘super park’ location,” said Hallowell. “Given the market’s relative lack of modern, high-bay industrial product, the asset is well positioned for upside.”
150 Charles Colton Road is set on 14.5 acres of land within the 810-acre Myles Standish Industrial Park. Located off Interstate 495, the asset benefits from seamless distribution logistics with respect to the major highway systems and population centers surrounding Boston, Providence and Worcester.
About Newmark Knight Frank
Newmark Knight Frank (“NKF”), operated by Newmark Group, Inc. (“Newmark Group”) (NASDAQ: NMRK), is one of the world’s leading and most trusted commercial real estate advisory firms, offering a complete suite of services and products for both owners and occupiers. Together with London-based partner Knight Frank and independently-owned offices, NKF’s 16,000 professionals operate from approximately 430 offices on six continents. NKF’s investor/owner services and products include investment sales, agency leasing, property management, valuation and advisory, diligence, underwriting, government-sponsored enterprise lending, loan servicing, debt and structured finance and loan sales. Occupier services and products include tenant representation, real estate management technology systems, workplace and occupancy strategy, global corporate services consulting, project management, lease administration and facilities management. For further information, visit www.ngkf.com.
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