Griffith Properties Acquires Property In Hyde Park For $76M With Buyer's Rep Caroline Collett

The property involved in this transaction is Boston Dedham Commerce Park, an industrial complex located at 101 Sprague St, Boston, MA 02136, in the Hyde Park market. The complex comprises five buildings and spans a total of 632,188 square feet. The acquisition price was $76,000,000.00, and the property sits on 22 acres adjacent to the Readville commuter rail stop.

Summary of transaction details:

• Property Type: Industrial Complex
• Transaction Amount: $76,000,000.00
• Address: 101 Sprague St, Boston, MA, 02136
• Market: Hyde Park
• Buyer: Griffith Properties
• Seller: First Highland Management and Development Corp.
• Buyer's Representative: Caroline Collett - Newmark
• Borrower's Representative: Andrew Stone - CBRE
• Brokers: J.R. McDonald - Newmark Knight Frank

This transaction included collaboration among several key individuals. Griffith Properties will enter into a joint venture with affiliates of Dune Real Estate Partners LLC to operate the complex. Robert Griffin, Mike Frisoli, Tyler McGrail, and Caroline Collett from Newmark were involved in representing both parties in this off-market deal. They will also handle the marketing of the available space for lease.