Shallow bay industrial property south of Boston trades hands
JLL Capital Markets secured the sale of 242 Libbey Industrial Parkway in Weymouth, MA
BOSTON, Feb. 18, 2025 – JLL Capital Markets announced today the sale of 242 Libbey Industrial Parkway, a 27,000-square-foot shallow bay warehouse facility in Weymouth, Massachusetts.
JLL represented the buyer, Sticks Investment Group, in the acquisition. Fulcrum Real Estate Partners sold the property.
Built in 2004, the Class A shallow-bay warehouse features 24-foot clear heights and ample tenant-dedicated loading and parking. The facility is fully leased to three tenants.
242 Libbey Industrial Parkway is strategically located 16 miles south of Boston in Weymouth, MA. The property offers excellent access to major transportation routes, including Route 3, I-93, Route 24 and I-95, providing seamless distribution capabilities and access to a robust labor pool.
The JLL Capital Markets team was led by Managing Director Michael Restivo along with Directors David Coffman and Tommy Hovey.
"The sale of 242 Libbey Industrial Parkway exemplifies the enduring demand for well-located shallow bay industrial properties," said Restivo. "With its strategic location just south of Boston, it caters to the growing need for last-mile distribution and local service providers. As we see vacancy rates for these properties outperforming the broader industrial market, investments like 242 Libbey Industrial Parkway offer a compelling opportunity for investors seeking stable cash flows and strong returns."
JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment sales and advisory, debt advisory, equity advisory or a recapitalization. The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.
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About JLL
For over 200 years, JLL (NYSE: JLL), a leading global commercial real estate and investment management company, has helped clients buy, build, occupy, manage and invest in a variety of commercial, industrial, hotel, residential and retail properties. A Fortune 500® company with annual revenue of $20.8 billion and operations in over 80 countries around the world, our more than 111,000 employees bring the power of a global platform combined with local expertise. Driven by our purpose to shape the future of real estate for a better world, we help our clients, people and communities SEE A BRIGHTER WAYSM. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.
About Fulcrum Real Estate Partners
Fulcrum Real Estate Partners, LLC, founded in 2014 by partners Rick Putprush and Rob Kirschner, is a Needham, Massachusetts-based real estate investment and consulting firm specializing in syndicated investments in industrial, warehouse-distribution and office properties in the $2 – $10 million price range throughout New England.
About Sticks Investment Group
Sticks Investment Group is a Boston-based, real estate investment firm specializing in acquiring, owning, and operating industrial real estate throughout New England. Sticks seeks value-add opportunities within submarkets and micro markets of New England that cater to the surrounding populations and workforce.
Sticks Investment Group was founded by Bob Indeglia in 2023. Sticks was founded on the principles that embody a well-rounded team, no matter its size, that works together with passion and discipline to achieve a common goal. Integrity, transparency, honesty, and resiliency are at the forefront of the principles that Sticks will exemplify in each investment and throughout its course of operations.