CUSHMAN & WAKEFIELD ARRANGES SALE; NOVAYA REAL ESTATE VENTURES, LLC AND HALL ROYCE CONSULTING, LLC PURCHASED 1 FIRST PEABODY, MASSACHUSETTS
August 2015 – Boston, MA – Novaya Real Estate Ventures, LLC, in conjunction with Hall Royce Consulting, LLC, acquired 1 First Avenue, a 134,732 square foot Class B industrial warehouse located in Peabody, Massachusetts for $8,100,000. The property is 100% leased to Schwartz & Benjamin, Analogic Devices and S.G. Torrice and is located in Centennial Park, which is only 8.6% vacant.
This marks the third industrial acquisition for Novaya in 2015, after closing 57 Littlefield in Avon and 326 Ballardvale in Wilmington earlier in the year. Novaya Principal Jeff Theobald explained, “1 First Avenue clearly fit s into Novaya’s strategy of acquiring well-located, functional warehouse assets which perform well throughout market cycles.”
Cushman and Wakefield represented the seller, Paradigm Properties, on the transaction.