Colliers sells two Myles Standish Industrial Park assets for near $130/SF

Boston, July 18, 2019– Colliers International recently announced that Executive Vice President Cathy Minnerly, Senior Vice President Caleb Hudak, Vice President Ovar Osvold, and Associate Sean Hannigan successfully advised their client, Rock Partners, LLC, in the portfolio sale of 520 and 540 Myles Standish Boulevard in Taunton, Massachusetts. The fully stabilized, high-end assets total approximately 35,000 square feet and are home to Utz Quality Foods who leased 520 via a 2012 office/warehouse build-to-suit transaction, and the Commonwealth of Massachusetts’ Department of Revenue whose two-story office building at 540 underwent a complete renovation in 2011. The buyer, TSC Holdings, LLC, but more widely recognized as The Shearwater Companies, saw the acquisition as a strategic addition to its existing Myles Standish portfolio and paid $4,475,000 ($129.82/SF) for the two buildings.

“After extensive analysis of the two properties, we decided to proactively approach The Shearwater Companies with this unique opportunity,” noted Minnerly. “The buildings’ profiles, location and quality fit seamlessly into their existing portfolio and have led to an absolute win-win for both buyer and seller.”

 

According to Caleb Hudak of Colliers International’s Capital Markets team, “Shearwater ultimately beat out a wide range of investors who expressed interest in the portfolio. The level of interest and final transaction pricing is a testament to Myles Standish continuing to be one of the most highly sought-after office and flex/industrial parks in the south market.”


colliers sells two myles standish industrial park assets for near 130sf

   

 

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About Colliers International Group

Colliers International Group Inc. (NASDAQ: CIGI; TSX: CIGI) is an industry-leading global real estate services company with a global brand operating in 69 countries and a workforce of more than 12,000 skilled professionals serving clients in the world’s most important markets. Colliers is the fastest-growing publicly listed global real estate services company, with 2017 corporate revenues of $2.3 billion ($2.7 billion including affiliates). With an enterprising culture and significant employee ownership and control, Colliers professionals provide a full range of services to real estate occupiers, owners and investors worldwide. Services include strategic advice and execution for property sales, leasing and finance; global corporate solutions; property, facility and project management; workplace solutions; appraisal, valuation and tax consulting; customized research; and thought leadership consulting.

Colliers professionals think differently, share great ideas and offer thoughtful and innovative advice that help clients accelerate their success. Colliers has been ranked among the top 100 outsourcing firms by the International Association of Outsourcing Professionals’ Global Outsourcing for 13 consecutive years, more than any other real estate services firm. Colliers has also been ranked the number one property manager in the world by Commercial Property Executive for two years in a row.

For the latest news from Colliers, visit Colliers.com or follow us on Twitter: @Colliers and LinkedIn. To see the latest news on Colliers International in Boston, follow @Colliers_Boston.



For further information, please contact:
Jen Weber
InkHouse for Colliers
Phone: 781.966.4130
Email: colliers@inkhouse.com


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Caleb Hudak

Senior Vice President

Boston

As Senior Vice President on the Capital Markets Team, I provide service to a diverse mix of developers, landlords and investors in the Greater Boston market. Working on their behalf in the disposition and/or acquisition of office, flex and industrial properties, I approach each assignment by putting myself in the position of the client and advise accordingly. I believe that understanding all of the sides to a transaction and shifting the focus from transaction-centric to business decision-centric has resulted in much stronger and more meaningful client relationships, rooted in honesty and loyalty.

My exposure to and interest in real estate began immediately after graduating from Tufts University, when I was hired by another real estate brokerage firm to focus on the Route 128 leasing market, specifically the central Mass Pike territories in and around Waltham. After learning the business and spending time in the market, I could identify the aspects that most interested me and that could offer meaningful opportunities for my career long term. I knew that I enjoyed having the foundation of traditional leasing as my day-to-day activities but was simultaneously intrigued and motivated by creative sale and redevelopment opportunities. In an effort to find that along with the necessary work-life balance, I made the move to Colliers International and transitioned from the well-established and more institutional central 128 market to the south and west markets. This territory offered a unique diversity of assignments, affording me more exposure to different building types, distinct industries and clients, and often unveiling those opportunities for creative repositioning, be it through a redevelopment or sale that had piqued my interest early on. This prior experience has provided an ideal foundation for my most recent transition to the investment sales side of the business.

Though real estate has certainly taken shape in my life as much more than just a nine-to-five job, I do make time for the activities that I find most fulfilling, such as skiing, going to concerts, and especially spending time with my wife and four children.

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Ovar Osvold

Senior Vice President

Boston

Mr. Osvold joined the Colliers International Southwest suburban team in the summer of 2018. He has spent his entire career focusing his area of expertise within Southwest Massachusetts, which has allowed him to establish a large client network. Mr. Osvold is a trusted advisor and consultant to his clients in the leasing, sale and acquisition of office, flex, industrial, and land asset classes.

Prior to joining Colliers, Mr. Osvold served as a Vice President at NAI Hunneman on the Suburban Brokerage team. Since joining NAI Hunneman in 2010, he has been involved in over 5 million square feet of transactions and his team was consistently one of the top producers at the firm.

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Sean Hannigan

Assistant Vice President

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As a broker with the Southwest team at Colliers, I represent a variety of landlords and tenants across all product types, including office, industrial and flex. My clients range from national corporations to small business owners, all of whom rely on me for market knowledge as well as my level headedness, creativity and determination.

Prior to joining Colliers in 2018, I spent my first two years out of college as a member of the leasing and advisory team at NAI Hunneman. This experience, coupled with my Economics and Finance degree from Bentley University, allowed me to develop a strong foundation in the many different facets of commercial real estate.

One of my favorite parts of my job is seeing my clients grow and succeed. Knowing that I play a vital role in deciding where a company calls “home” is extremely rewarding.  

When I am not helping clients with their commercial real estate needs, I enjoy golf, going to concerts and spending time in Maine.

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