BGO buys fully leased Wrentham, Mass., industrial building for reported $34.9M

BGO has acquired 545 Washington St. in Wrentham, Mass., a newly built 132,055-square-foot Class A industrial building, for a reported $34.9 million on behalf of an institutional investor.

The property was completed in 2023 and is fully leased to two tenants, according to Connect CRE, which first reported the sale. The reported price works out to about $264 per square foot.

Bluewater Property Group and Affinius Capital were the sellers, and JLL Capital Markets represented them, according to the report. JLL senior managing directors Michael Restivo and John Plower, senior director David Coffman and director Tommy Hovey handled the assignment, with senior managing director Joe Fabiano of JLL's Leasing Advisory team also assisting.

"545 Washington St. combines several of the characteristics we continue to value in industrial real estate: modern specifications, strong tenancy, and connectivity to major population and distribution networks," Steve Lekki, a BGO managing director, said in the report. He added that BGO expects the property to serve logistics and distribution users across New England.