BOSTON— Global real estate investment manager BGO has acquired a newly constructed, fully leased industrial warehouse in Wrentham, Massachusetts, from Bluewater Property Group and Affinius Capital in a transaction arranged by JLL Capital Markets.
The property, located at 545 Washington St., spans 132,055 square feet and represents one of the newest institutional-quality industrial facilities in Greater Boston’s South industrial market. Completed in 2023, the Class A warehouse was fully leased shortly after construction and is currently occupied by two tenants.
JLL Capital Markets represented the sellers in the transaction. The sale price was not disclosed in the announcement.
The acquisition adds a modern logistics and distribution facility to BGO’s real estate portfolio at a time when investors continue to seek stabilized industrial assets with established rental income and access to major regional transportation networks.
Situated on 13.6 acres, the warehouse was designed to accommodate contemporary logistics, distribution and light industrial operations. Its features include 36-foot clear heights, 30 dock-high loading doors, two drive-in doors and 13 trailer parking spaces. The property also offers 155 vehicle parking spaces, 3,000 amps of electrical power, ESFR fire protection and LED lighting.
The facility’s insulated precast concrete construction and flexible suite configuration are designed to support the operational needs of midsized industrial occupiers, a segment that continues to contribute to demand across the Greater Boston market.
Its location along Washington Street provides direct access to Route 1 and convenient connections to Interstates 495, 95 and 295. The property is approximately 21 miles from Providence, Rhode Island, 30 miles from Boston and 42 miles from Worcester, Massachusetts, positioning it within reach of major New England population centers and consumer markets.
The site also benefits from access to a regional labor pool spanning southeastern Massachusetts and northern Rhode Island. The surrounding economy includes logistics, manufacturing, health care, life sciences and technology-related industries, supporting demand for distribution and industrial space.
“Investors recognized the compelling combination of institutional-quality construction, diversified tenancy across essential logistics sectors and the property’s unmatched access to New England’s primary transportation corridors,” said Michael Restivo, senior managing director at JLL.
He added that the opportunity to acquire a newly built, stabilized property with predictable rental income in a market experiencing tightening fundamentals generated strong buyer interest during the marketing process.
The JLL Capital Markets team handling the transaction was led by Senior Managing Directors Michael Restivo and John Plower, Senior Director David Coffman and Director Tommy Hovey. Joe Fabiano, a senior managing director with JLL’s Leasing Advisory team, also assisted with the sale.
The transaction underscores the continued appeal of modern industrial real estate in strategically located New England markets, particularly facilities that combine contemporary specifications, established occupancy and access to major highways.
For BGO, the acquisition provides exposure to a fully leased industrial property serving the region’s logistics and distribution network. For the sellers, the transaction represents the disposition of a recently developed asset that achieved full occupancy soon after completion.
JLL Capital Markets provides real estate investment sales and advisory, debt advisory, mergers and acquisitions, corporate finance, loan sales, equity and fund placement, net lease, derivatives, and energy and infrastructure advisory services. Its global platform includes more than 3,000 capital markets specialists operating across nearly 50 countries.
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