Class A warehouse and distribution facility sold in Bellingham

CBRE/New England’s Capital Markets and Industrial teams today announced the sale of 150 Depot Street, a ±252,600 SF Class A warehouse and distribution facility located in Bellingham, MA, for $25.5 million.

CBRE/NE’s Dave Pergola, Brian Doherty and Robert Gibson represented the seller of the property, National DCP, and procured the buyer, an institutional investor advised by Bentall Kennedy (U.S.) Limited Partnership.

The property was originally developed for National DCP in 2005 and continues to represent a significant location for the distribution company today. Following the sale of the asset, National DCP has committed to a long-term lease at the property. Located near Interstate 495, the facility provides easy access to both Interstates 90 (Mass Pike) and 95 and features a unique combination of dry storage and freezer/cooler space. The asset includes attractive modern specifications and infrastructure with 30' clear height and ESFR sprinklers throughout the warehouse portion of the building.

About CBRE/New England

CB Richard Ellis – N.E. Partners, LP, a joint venture with CBRE Group, Inc. has offices in Massachusetts, Connecticut, Rhode Island, Maine and New Hampshire. Please visit our website at www.cbre-ne.com. CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (in terms of 2015 revenue). The company has approximately 70,000 employees (excluding affiliates), and serves real estate owners, investors and occupiers worldwide. CBRE offers strategic advice and execution for property sales and leasing; corporate services; property, facilities and project management; mortgage banking; appraisal and valuation; development services; investment management; and research and consulting.