Boston, MA, October 23, 2019 – Colliers International recently announced that Senior Vice President Caleb Hudak, Executive Vice President Cathy Minnerly, Vice President Ovar Osvold, Associate Sean Hannigan, and Senior Client Services Specialist Glenne Bachman successfully sold the Foxford Business Center at 960R Turnpike Street, Canton. The fully leased industrial building is situated on 8.13 acres and home to 13 tenants across its 112,375-square-foot footprint.
The team advised their client, The Naughton Company, in the $12,350,000 ($110/SF) sale to Bostonbased Longpoint Realty Partners. Foxford Business Center’s development has occurred in stages, beginning in 1984 and with subsequent additions in 1990 and 1995, and has been meticulously maintained by The Naughton Company since day one. As a result, the asset attracted widespread interest from local and institutional buyers alike, drawn to its stability, Class A, all block construction, new Sika roof, and superior loading dock ratio potential of 2.5 docks per 1,000 SF. The adjacent and also fully leased 21,600-square-foot office building at 960 Turnpike Road is still actively available for sale.
"Quality assets in thriving flex/industrial settings such as Canton are relatively scarce," noted Osvold. "We are extremely pleased with the outcome here. The overall response to this opportunity was staggering and that’s a direct reflection of the Seller's hard work and attention to detail over the years. It was an absolute pleasure working with Longpoint Realty Partners to secure this core product in their home market."
"The purchase of 960 Turnpike represents a continuation of Longpoint's strategy of acquiring highly functional, shallow bay industrial assets near major population centers," shared founding partner of Longpoint Realty Partners, Robert Provost. "This asset is a great addition to our growing Boston industrial portfolio. It was a pleasure working with John Naughton and the entire Colliers team. True professionals all around."
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