Reclamation Partners, in partnership with EOZ Ventures, announced it has acquired a 33,619-square-foot light industrial facility located at 1023 Turnpike Street in Stoughton, Massachusetts, within Boston’s infill Route-128 South industrial submarket.
The property is a single-tenant, fully occupied asset situated on approximately 3.0 acres and features four dock doors, 22-foot clear heights, and a 100-foot truck court. The transaction was structured as a 10-year sale-leaseback, providing immediate cash flow. The deal was sourced off-market through Reclamation’s brokerage relationship with JLL.
The acquisition aligns with Reclamation’s strategy of targeting infill industrial assets that are difficult to replicate due to rising construction costs and limited land availability. The firm noted that construction costs have increased significantly in recent years, making new development of similar standalone properties economically challenging in core submarkets like Boston.
Reclamation continues to focus on acquiring logistics and industrial assets in high-density Northeast markets, particularly those with strong tenant demand, functional building characteristics, and barriers to new supply. This marks the firm’s second acquisition in the Route-128 South submarket, reinforcing its emphasis on sourcing differentiated, off-market opportunities.
KEY QUOTES:
“Construction costs have risen more than 40% over the past few years, and the economics of building a 33,000-square foot standalone industrial building in an infill Boston submarket simply do not work anymore. That is the environment we are investing into. This is our second acquisition in Route-128 South, and both deals share the same foundation: infill locations, standalone configurations that cannot be economically replicated, and physical characteristics that tenants compete for.”
Daniel Connaughton, Managing Partner, Reclamation Partners
“This is a straightforward acquisition: a well-located infill building, a tenant with deep operational roots at the site, and a purchase price that reflects a meaningful discount to what it would cost to develop this asset today. There is no shortage of capital that would own these assets – what is scarce is the ability or desire to originate them. These deals do not come through broadly marketed processes, and no two are alike. Institutions recognize the quality; what they cannot justify is the time and effort required to buy them one at a time. We can, and we are.”
Matthew McCarthy, Managing Partner, Reclamation Partners
