December 5, 2018

London firm acquires Bellingham distribution center for $25M

Photo | Courtesy
190 Mechanic St. in Bellingham has sold for $25.1 million.

London real estate giant TH Real Estate, a subsidiary of Chicago-based investment firm Nuveen, has purchased a large warehouse and distribution facility in Bellingham for $25.1 million.

CBRE Group, representing seller Guggenheim Real Estate, announced the sale Tuesday.

According to the Norfolk County Registry of Deeds, the sale closed Nov. 27.

The 210,700-square-foot building constructed in 2006 is fully leased, including New York paper distributor Lindenmeyr Paper Corp., a subsidiary of Central National Gottesman.

Two other tenants occupy the 190 Mechanic St. building, but those companies were not listed.

In a statement, CBRE said TH Real Estate has acquired one of the highest quality industrial assets in the area.

"With Central National Gottesman in place for another 6+ years, TH Real Estate has purchased the ultimate trifecta: a true best-in-class asset, with durable cash flow and a credit-tenant anchor," CBRE/New England Vice President Roy Sandeman said.


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