Littleton Complex To Draw Suitors

(To read more on the industrial market, click here.)

LITTLETON, MA-There is nothing tiny about the Littleton Distribution Center. The sprawling complex has 240,000 sf of existing industrial space and a like amount that will be under construction in the next few weeks, plus the ability to develop another 360,000 sf in the future. Now, owner GFI Partners Inc. of Boston is hoping to garner a big price for the asset, having retained CB Richard Ellis to gauge investor interest.

“We decided maybe we should bring it out and see what others think,” GFI president Steven Goodman tells GlobeSt.com. The marketing campaign, he explains, was prompted by unsolicited inquires from deal-starved buyers. An asking price has not been established, he says, but some sources maintain the lack of modern industrial space will steel investors to pursue the hulking property.