NOVAYA REAL ESTATE VENTURES ANNOUNCES THE ACQUISITION OF 326 BALLARDVALE STREET IN WILMINGTON, MASSACHUSETTS
WILMINGTON, MA – July 24, 2015 – Novaya Real Estate Ventures, LLC recently purchased 326 Ballardvale Street in Wilmington, MA for $24.5 million. The 293,980 square foot, three-building Class A warehouse portfolio is 100% leased to premier tenants including National Grid and Symbotic (a subsidiary of C&S Wholesalers). The property, located a mile off Interstate 93 and in close proximity to the interchange with Interstate 95/Route 128. Recently, Ballardvale Street has seen a tremendous rise growth in its amenity base, including a newly constructed Target retail store and food offerings.
This was Novaya’s second industrial acquisition in 2015 after purchasing 57 Littlefield Street in Avon, MA in April 2015. “We strongly believe in the real estate fundamentals of the Boston industrial market. These properties benefit from a key location in the improving Interstate 93 corridor market and generous clear heights which we see as positive indicators for success over the long term within the market.” said Novaya Principal, Peter Carbone.
Colliers International represented the seller, RREEF, in the transaction.