First class industrial facility sold in Devens
CBRE/New England’s Capital Markets and Industrial teams announce the sale of 36 Saratoga Boulevard, a fully occupied ±162,000 SF first class industrial facility located in Devens, MA. 36 Saratoga Boulevard was developed in 1999 by J.G. Petrucci Company, a premier design/build development company headquartered in Asbury, New Jersey. CBRE/NE’s Bob Gibson, Dave Pergola and Brian Doherty represented the seller, J.G. Petrucci, and procured the buyer, Cabot Properties, Inc.
“CBRE/New England was excited to be able to work in partnership with the Petrucci Company in initially securing New England Sheets for the project and subsequently assisting them in procuring a quality, institutional owner, Cabot Properties, as the next owner of this notable Devens asset,” said CBRE/NE’s Gibson.
“Bob Gibson and his team have done an outstanding job for us over a period of many years,” said Jim Petrucci, President and founder of J.G. Petrucci Company, Inc.
36 Saratoga Boulevard represents a significant location for tenants with easy access to both I-495 and Route 2. Situated in the highly sought-after Metro West industrial market and consisting of 25-32' clear height, the property fits into an exclusive competitive set of high-bay warehouse product within an extremely supply-constrained market.
About J.G. Petrucci Company, Inc.
J.G. Petrucci Company Incorporated, located in Asbury, NJ and Bethlehem, PA, is a privately held development and design/build organization with 29 years of experience in the design, development, re-development and acquisition of commercial, industrial, educational, multi-family and healthcare-related properties. Acting as the single point of contact from inception through move-in, J.G. Petrucci Co., Inc. continuously exceeds client expectations by accepting full responsibility for integrating conceptual design with functional performance thus effectively controlling costs and schedule. Through a combination of well-established relationships, proven development expertise, and in house technical capabilities, J.G. Petrucci Co., Inc. sets itself apart from its competition. As a recognized leader in both the New Jersey and Pennsylvania markets, J.G. Petrucci Co., Inc. is proud to maintain well-established relationships with it’s client and tenant roster including Merrill Lynch, Weyerhaeuser Co., Federal Express, Follett Corporation, Gargiulo Produce, St. Luke’s University Health Network, Lehigh Valley Health Network, Flemington BMW, ICO Polymers and Synchronoss Technologies, Inc. For additional information on J.G. Petrucci Company Inc. please visit our website at www.jgpetrucci.com.
About CBRE/New England
CB Richard Ellis – N.E. Partners, LP, a joint venture with CBRE Group, Inc. has offices in Massachusetts, Connecticut, Rhode Island, Maine and New Hampshire. Please visit our website atwww.cbre-ne.com. CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (in terms of 2015 revenue). The company has approximately 70,000 employees (excluding affiliates), and serves real estate owners, investors and occupiers worldwide. CBRE offers strategic advice and execution for property sales and leasing; corporate services; property, facilities and project management; mortgage banking; appraisal and valuation; development services; investment management; and research and consulting.
