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JLL has been exclusively retained to offer for sale 356 South Avenue, a 99,000 SF Industrial/Flex/Retail facility on a 5.04-acre site, in Whitman, Massachusetts. The property is located along the scenic Hobart Pond and is immediately adjacent to the MBTA’s Whitman Station offering access to Boston’s South Station in 30 – 40 minutes. The existing structure is a historic mill building built in the 1800’s as a tack factory and represents a unique redevelopment opportunity. The property is currently a multi tenanted industrial, flex and retail complex, with an existing base often tenants that have been in place for an average of 10+years.
Despite the robust occupancy, there are no long-term lease commitments at the asset–meaning that no contractual impediments exist for near or long term development scenarios, presenting blank slate for either a re -imagining of the property’s current commercial function or a full or partial ground-up residential path. 356 South Avenue is presented at a time when both large format industrial buildings and suburban residential development opportunities are becoming scarcer and scarcer, positioning the asset to Capture the positive momentum associated with both market sectors.
- Transit-Oriented Parcel
- Stable Existing Income
- Strong Residential Fundamentals
- 36% Increase in rent from last 5 years