Cabot Re-Enters Market With 221,000-SF Acquisition

WOBURN, MA-Cabot Properties, Inc. purchased 275 Wildwood Ave. for $11.5 million. This deal represents the first investment for the locally based private equity real estate investment firm in the Boston market since selling Cabot Industrial Trust in December 2001. The firm sold its portfolio for $2.1 billion, which included seven properties in the Boston market.

The former facility, which Cabot bought from Necco, was headquarters for Lechmere and recently was a distribution facility for Necco. The facility is currently vacant, but Cabot says it anticipates repositioning the property for immediate occupancy.

Charlie Forbes, vice president of acquisitions, initiated and closed the transaction for Cabot Properties. Brad Spencer of Grubb & Ellis represented Cabot. Bruce Levine, Hunter Emerson and David Connolly of CB Richard Ellis repped Necco.