The Seyon Group (“Seyon”), in partnership with Wheelock Street Capital (“Wheelock”), announced it has acquired 10 Dan Road and 20 Dan Road – located within the Canton Commerce Center, one of Route 128 South’s most dominant industrial parks. The park benefits from the adjacent Route 138 commercial corridor, which provides tenants with a plethora of amenities including retail, restaurant and day care facilities. The portfolio is directly accessible from Interstate 93, providing access to downtown Boston, and is just one exit from 93’s key intersection with Interstate 95, providing unmatched access to labor throughout Greater Boston. The Seyon and Wheelock partnership now own and operate a 3 million square-foot portfolio of industrial real estate across 25 assets, primarily in the Greater Boston metro.
Built in 2001, the Dan Road assets are currently 100% leased to four tenants with a weighted average lease term of more than six years. “We are thrilled with the acquisition, recent long-term commitments by credit quality tenants further validates the Class A nature of the portfolio and the market-leading specifications that support a variety of tenant needs including warehouse, flex/R&D, office and life science uses,” said The Seyon Group Managing Partner Bryan Blake.
10 and 20 Dan Road sit on 12.60 and 12.30 acres, respectively. Each property offers 22’ ceiling heights, 8 loading docks, 40 x 40 column spacing, and a combined 735 parking spaces. The off-market acquisition was an opportunity to add two high-quality industrial assets only five miles from Shawmut Park, where the partnership currently owns eight light industrial assets totaling 455,000 SF.
CBRE’s Boston Capital Markets team represented the seller; CBRE’s Boston Capital Markets team includes Scott Dragos, Doug Jacoby, Chris Skeffington, Roy Sandeman, Anthony Hayes, Timothy Mulhall, and Daniel Hines.
About The Seyon Group
The Seyon Group is a boutique real estate investment firm that targets quality institutional investments within toptier Northeast markets. Founded in January 2017 by Bryan Blake and Andrew Iglowski, The Seyon Group works to identify the highest-quality assets situated in strategic, difficult-to-replicate locations, frequently with a potential for higher future uses. As of October 2019, The Seyon Group’s portfolio consists of 30 land, industrial, and warehouse properties, combining for a total of 3.7 million square feet.
About Wheelock Street Capital
Wheelock Street Capital (www.wheelockst.com) was formed in 2008 by Rick Kleeman and Jonathan Paul, two veteran real estate private equity investors, each with 30 years of broad real estate transaction experience across all major asset classes. Wheelock has raised over $3 billion in capital commitments from well-known institutional investors and focuses on real estate investment opportunities throughout the United States, in both public and private markets. The firm may invest directly or with high quality joint venture partners through a variety of capital structures and transaction types, including acquisitions, restructurings, and recapitalizations. Wheelock’s investment team benefits from extensive experience from top-tier institutional investment firms and highly regarded real estate operating companies and has produced a 10-year track record of demonstrated and consistent outperformance over industry benchmarks.