BOSTON, MA, MARCH 3, 2021 – Colliers recently announced that it completed a unique assignment resulting in a sale and full-building lease of Turner Brothers’ brand-new construction at 295 Constitution Drive, Taunton. With a desirable Myles Standish Industrial Park location, 28’ clear height, ESFR sprinkler system, and 12 loading docks, the 42,500-square-foot building was well-positioned to gain traction in a hot industrial market. “Greater Boston is incredibly supply constrained and demand heavy for this type of product right now, so we were confident we could deliver an optimal solution to Turner in a short timeframe,” noted Colliers Senior Vice President Ovar Osvold.
Colliers introduced the building to client, Berkeley Partners, as an investment acquisition opportunity while simultaneously conducting a search for prospective tenants. Berkeley, who operates a nationwide light industrial portfolio in several major markets, has a growing Massachusetts presence and valued the market dynamics surrounding 295 Constitution Drive. They ultimately purchased the asset, and amid the sale process Colliers identified Metropolitan Warehouse & Delivery, a nationwide operator providing white-glove delivery services for high-end furniture and accessories, to lease the space in its entirety.
Working in partnership with Director of Acquisitions Mallory Gonzalez, Colliers enjoys a longstanding relationship as both an advocate for and resource to the entire Berkeley team. “We enjoy bringing creative ideas to Berkeley,” added Osvold, “and are especially excited when those ideas – like this one – lead to win-win solutions for all parties involved.”
Joining Ovar Osvold in the assignment were Executive Vice President Cathy Minnerly, Assistant Vice President Sean Hannigan, and Senior Client Services Specialist Glenne Bachman. Rachel Marks of CBRE represented Metropolitan Warehouse & Delivery in the leasing transaction.
Colliers International Group Inc. (NASDAQ, TSX: CIGI) is a leading diversified professional services and investment management company. With operations in 68 countries, our more than 15,000 enterprising professionals work collaboratively to provide expert advice to maximize the value of property for real estate occupiers, owners and investors. For more than 25 years, our experienced leadership, owning approximately 40% of our equity, has delivered compound annual investment returns of almost 20% for shareholders. In 2019, corporate revenues were more than $3.0 billion ($3.5 billion including affiliates), with $33 billion of assets under management in our investment management segment.
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