Malden, MA JLL Capital Markets completed the sale and arranged the financing for the acquisition of a fully leased 47,915 s / f light industry distribution and manufacturing facility at 60 Winter St. Sale and financing amounts were not disclosed.
JLL represented the seller, Eastern Real Estate, who sold the property to Boston-based Novaya Real Estate Ventures. In addition, JLL placed the five-year fixed rate acquisition loan with Middlesex Savings Bank.
Fully leased to Enjet Aero, 60 Winter St. plays a critical role in the manufacturing and distribution of custom turbine and jet engine components. The facility was originally built in 1958 and features steel construction, headroom heights ranging from 14.5 to 30 feet, three dock doors, two access doors, and ample parking. In recent years, Enjet Aero has invested heavily in building improvements.
60 Winter St. is 10 minutes north of downtown Boston. This accessible location is close to major highways, public transportation and Logan International Airport, in addition to six other Enjet Aero facilities across the country.
The JLL Industrial Capital Markets team that represented the seller was led by Senior Director Michael Restivo. Senior Manager Jonathon Schneider led the financing on behalf of the buyer.
“This transaction provided a rare opportunity to own an exceptionally located urban infill industrial asset occupied by a long-term stable tenant who has been in this location for over 60 years,” said Restivo.