JLL Income Property Trust Buys Boston-Area Distribution Center
The division has expanded its portfolio with the acquisition of a 200,000-square-foot warehouse located within Myles Standish Industrial Park in Taunton.
Taunton Distribution Center. Image courtesy of JLL Income Property Trust
JLL Income Property Trust has purchased Taunton Distribution Center, a 200,000-square-foot Class A industrial facility in Taunton, Mass., for $25.7 million. The distribution center is currently occupied by Williams-Sonoma.
The industrial facility is situated at 150 Charles Colton Road, near New England’s key thoroughfares, including Interstate 495, which provides easy access to Boston, Providence and Worchester. Built in 2016, the warehouse features 32-feet clear heights, tilt-up construction, high dock ratios and trailer parking. The asset is within Myles Standish Industrial Park, which encompasses more than 6 million square feet of warehouse, distribution, manufacturing and office space.
Boston’s thriving tech and life science industries are boosting population growth in the metro and resulted in a wave of new tenant migration to accommodate increasing e-commerce demand. Industrial vacancy rates have significantly decreased over the past quarters and net absorption has been positive for 20 of the past 25 quarters.
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