Texas REIT Buys Dorchester Industrial Park For $27M

Dallas-based Spirit Realty Capital acquired the Alsen Mapes industrial park from Keystone Capital Management for $26.8M.
Dallas-Based Spirit Realty Capital Acquired The Alsen Mapes Industrial Park From Keystone Capital Management For $26.8M.

Spirit Realty Capital acquired the Alsen Mapes industrial park in Dorchester's Fields Corner neighborhood.

The Dallas-based real estate investment trust purchased multiple parcels, including 40-44 Sturtevant St. and 50 Park St., for $26.8M, according to public records. The industrial park is home to the Dutch Maid Bakery and Royal Label Co.

The properties were sold by Chicago investment firm Keystone Capital Management, public records show. Spirit Realty and Keystone Capital didn't respond to Bisnow's request for comment.

The REIT has over $9.3B in real estate investments and 347 tenants, including Life Time Fitness, private golf club owner Invited Clubs, BJ's Wholesale Club and home décor brand At Home, according to its website.

Spirit Realty's portfolio is 24.6% industrial, with distribution space making up 11.2% of its overall holdings and manufacturing accounting for 10.6%.

Boston's industrial market has slowed from its peak activity but has remained stable due to its lower supply total than other markets, experts said at a Bisnow event in February. According to CBRE, the vacancy rate for the urban industrial submarket of Boston and Cambridge stood at 2.9% as of the first quarter.

Continue reading this story with a free account

Log in or register
Sign up for more articles like this
Subscribe to Bisnow's Boston Newsletters
Related Stories

Energy Company Opens 125K SF Newton Office: The Boston Deal Sheet

Simon Approaching End Of The Road With Struggling Suburban Boston Mall

Wu Proposes Tax Breaks To Jump-Start Stalled Housing Projects

Oxford Properties' U.S. Investment Head On Why It's Buying Office Again — And Where

Lineage Suing Solar Company Altus Power Over Boyle Heights Warehouse Fire

Davis Looks To Sell 16-Building Beacon Hill, Back Bay Portfolio

Prologis Acquires 69 Acres For 1M SF Chicago-Area Industrial Development

Stephen Curry Sells Planned HQ Site Near Warriors' Arena

Data Center Demand Has Made IOS An Institutional Capital Playground

Healey's New Data Center Rules Make Massachusetts A Tough Sell For Developers

Anthropic Doubling Local Presence With Cambridge Office Lease

How Prologis Conquered The World