The real estate investment platform CrowdStreet has launched an offering for an industrial center in Easton, Massachusetts, in metro Boston.
Easton Industrial Center will be a ground-up development of a Class A industrial warehouse in a high-demand market that’s well-connected to the entire Northeast. The warehouse will sit on 79 acres, and have 8,000 square feet of office space and 93,200 square feet of warehouse space for a total net rentable space of 101,200 square feet.
The project has been fully entitled and will begin construction in the first quarter. The project is expected to be delivered in early 2024.
The warehouse is two minutes from Route 24, which offers direct access to Interstates 495, 95 and 93. The access to freeways makes it easy to get to Boston (30 miles north), Providence (33 miles southeast) and the broader New England region.
The demand for industrial space far exceeds the supply. Tenants in the market are searching for 25.4 million square feet of space, but only 5 million square feet is available.
The area surrounding Easton Industrial Center is concentrated with prospective buyers that already own property in the area, including Amazon.com Inc. AMZN, Home Depot Inc. HD, Greystar Real Estate Partners, FedEx Corp. FDX and PepsiCo Inc. PEP, that could make exiting the investment easier.
“The Boston market continues to excel as one of the premier industrial markets in the country,” according to the offering page. “Q3 2022 ended with an overall vacancy rate of 1.9%, despite the delivery of over 2.4 million square feet of new development over the past 12 months. Class A product is particularly supply constrained, with high bay (28’ ceiling height and above) vacancy at a staggering 0.1% in greater Boston and 0.3% in the I-495 South submarket.”
Boston-based development sponsor Rhino Capital Advisors LLC has extensive knowledge and experience in the region. Rhino Capital’s investment strategy is to acquire and develop off-market value-add industrial, flex and office assets in the greater Boston metropolitan statistical area as well as multifamily opportunities in Boston and select suburban locations.
The offering window will opened Jan. 12 and requires a minimum investment of $25,000.
View details on CrowdStreet’s offerings
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