1705 Route 46 in Ledgewood — Courtesy: Cushman & Wakefield
By Joshua Burd
Woodmont Properties has sold more than 90,000 square feet of industrial flex space along Route 46, fetching just over $22 million for the two-building portfolio.
According to Cushman & Wakefield, which brokered the sale, the properties include 210 Fairfield Road in Fairfield and 1705 Route 46 in the Ledgewood section of Roxbury. The former is a single-tenant, 28,800-square-foot building, while the latter spans 63,686 square feet and is home to five companies.
Western Building Co. purchased the portfolio for $22.025 million.
“The I-80 Shallow Bay Industrial Portfolio offered the rare opportunity to acquire durable cash flow and benefit from the ever-growing industrial flex markets,” C&W’s Gary Gabriel said. “These properties are well-located in highly desirable submarkets with great access to (Interstate 80).”
Gabriel represented Woodmont alongside C&W’s Andy Merin, David Bernhaut, Kyle Schmidt, Andy Schwartz, Jordan Sobel and Andre Balthazard. In a news release, they noted that the properties sit within an industrial submarket that benefits from its easy access to the highway.
GardaWorld, the world’s largest privately owned integrated security and risk company, has occupied the Fairfield property since 2008, the news release said. Meantime, the Ledgewood property’s five tenants include Imprimis Pharmaceuticals and Cintas.
