BOSTON, September 29, 2022 - JLL Capital Markets announced today that it has closed the sale-leaseback of a Class A 108,689-square-foot cold storage warehouse with permitted freezer expansion at 10 Creek Brook Dr. in the Boston-area community of Haverhill, Massachusetts.

JLL marketed the property on behalf of the seller, CF Cold Storage LLC. Scout Cold Storage Haverhill, LLC, an affiliate of Scout Cold Logistics, LLC acquired the asset and executed a short-term lease with the seller to continue to occupy the property from where it manages and operates a transportation and storage company. The deal closed on June 30th, 2022.

10 Creek Brook Dr. offers its tenant a clear height ranging from 27 to 40 feet, 102,000 square feet of cooler space, 12,000 pallet positions, 21 dock-high doors, one drive-in door and 6,000 square feet of office space. The building comes with an expansion opportunity to add 45,000 square feet of freezer space.

Positioned on 23.16 acres, 10 Creek Brook Dr. is well located within Creek Brook Industrial Park off Interstate 495 in Haverhill, a northern Boston suburb. The competitive landscape for refrigeration space is unmatched across the North market as there are only a few non-owner-occupied facilities that provide the scale of 10 Creek Brook.

The JLL Capital Markets Investment Sales Advisory team was led by Managing Director Michael Restivo, Director Lenny Pierce and Associate David Coffman.

"This trade represented a rare opportunity to acquire a Class A Cold-Storage facility in the Greater Boston market, in an industrial sub-sector with often considered the strongest long-term macro tailwinds," said Restivo.

JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients - whether investment sales and advisory, debt advisory, equity advisory or a recapitalization. The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.

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Jones Lang LaSalle Inc. published this content on 29 September 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 04 October 2022 14:31:02 UTC.