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Bellingham Distribution Center Sold to TH Real Estate

Dec 5, 2018 | Reprints | Unlock Link

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TH Real Estate has acquired a fully leased industrial property in Bellingham.

The 210,700-square-foot warehouse and distribution facility at 190 Mechanic St. is occupied by three tenants, including paper and plywood distributor Central National-Gottesman. The sale price was $25.1 million.

CBRE/NE’s Chris Skeffington, John Lashar and Roy Sandeman represented the seller, Guggenheim Real Estate, and procured the buyer.

“With Central National-Gottesman in place for another six-plus years, TH Real Estate has purchased the ultimate trifecta: a true best-in-class asset, with durable cash flow and a credit-tenant anchor,” Sandeman said in a statement.

TH Real Estate has $114 billion in assets under management, including an $11 billion industrial portfolio spread across the U.S., United Kingdom and Europe.

B&T Daily