TH Realty has acquired One Beeman Road, a 342,900-square-foot warehouse in Northborough fully leased to FedEx SmartPost, from Stockbridge Capital Group of San Francisco.
The purchase price was $33.35 million, according to the Worcester County Registry of Deeds.
The high-bay distribution facility near the junction of Route 495 and the Massachusetts Turnpike has 104 railboard doors and building clear heights up to 33 feet. FedEx recently extended its lease through 2023.
Transwestern Consulting Group Partners Chris Skeffington and John Lashar and Vice President Joe Olin represented the seller and procured the buyer. TCG will provide leasing and property management services under new ownership.
The 5.4-million-square-foot I-495 west submarket for warehouse space had a vacancy rate of 6 percent at the end of the first quarter, according to TCG research.
TH Real Estate is an affiliate of TIAA’s investment management arm, Nuveen.