CHARLESTOWN, MA-United States Gypsum is vacating its 221,000-square-foot deep-water port site here and selling it outright to Charlestown Maritime Center, LLC. The affiliate of Boston-based Suffolk Cos. is taking the now vacant property for $4.5 million.
The straight-forward deal happened fairly quickly, says Brett Wagner of Vesper Realty Advisors, noting that the property was not on the market a long time. Wagner, Phillip Moses and Benjamin Sutton for Vesper represented the buyer in the deal.
The site at 200 Terminal St. totals 300,000 gross square feet on nine acres about 400 yards from the Charlestown Navy Yard, abutting the Mystic Tobin Bridge. The US Gypsum's Deep-water port is a fully functional deep water berth boasting five 80-foot silos and loaders on 600 linear feet of Boston harbor front.
USG had decided to vacate the premises, after the economy turned, having been there since 1928. Wagner noted that they already had a presence in the area with locations in New York, New Jersey and Pennsylvania. Suffolk is going to list the property starting at $3 per square foot and will be negotiable.
Wagner says that there is a little bit more activity going on with industrial deals recently, although mostly "under the radar" in the inner suburbs, but that more companies have been coming into the area with more capital looking for these investments. USG did not respond to GlobeSt.com inquiries by deadline.
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