Home > Press Releases > RBJ Represents ASB Real Estate Investments And Lincoln Property Company In Lease With IKEA

RBJ Represents ASB Real Estate Investments And Lincoln Property Company In Lease With IKEA

Home Furnishings Company Signs 101,065 SF Warehouse Lease In Stoughton Industrial Park

BOSTON – March 27, 2013 – Richards Barry Joyce & Partners, LLC (RBJ&P), a full-service commercial real estate advisory firm, announced today that it represented building ownership in a new 101,065 square foot lease with IKEA at the Stoughton Industrial Park (1000 Technology Center Drive, Stoughton, Mass.).

Stoughton Industrial Center

Stoughton Industrial Center

IKEA, the world’s leading home furnishings company, will use the location as a warehouse/distribution facility.  The 332,676 square foot building is owned by a joint venture between ASB Real Estate Investments and Lincoln Property Company.  1000 Technology Center Drive is located within the amenity-rich Stoughton Technology Park and is professionally managed by Lincoln Property Company.

“Stoughton Industrial Park is a great location for IKEA, given the building’s close proximity to IKEA’s retail store,” said Rob Byrne, vice president, Richards Barry Joyce & Partners.  “The facility offers the highway access, modern building systems and nearby amenities that are most sought after by companies vying for regional distribution in Greater Boston.”

Rob Byrne, Vice President

Rob Byrne, Vice President

Stoughton Industrial Center was formerly utilized as a major distribution center by Reebok, which still has a retail presence on site.  The building features 34’ clear heights, an ESFR sprinkler system, generous 24.5’ x 44.5’ column spacing, 42 loading docks and 474 parking spaces.  Stoughton Industrial Center, which is located off Exit 20 on Route 24, just south of the Route 24/I-93 interchange, offers nearby amenities that include restaurants, numerous hotels with conference facilities, day care and other business services.

The Richards Barry Joyce & Partners’ team assigned to the Stoughton Industrial Center project includes John Lashar, Rob Byrne and Paul Leone.  IKEA was represented in the transaction by Cushman & Wakefield.

About the Market – Route 128 South Warehouse
According to research by RBJ&P, the Route 128 South submarket consists of 11,931,000 square feet of warehouse space and was 18.0% vacant, as of the quarter ended December 31, 2012. (source: Richards Barry Joyce & Partners’ “indSTATus – Winter 2013”)

About ASB Real Estate Investments
ASB Real Estate Investments (ASB), a division of ASB Capital Management, LLC, is a leading U.S. real estate investment management firm with more than $3.5 billion* in gross assets under management for approximately 180 institutional clients. Headquartered in Washington DC, ASB invests in major urban markets across the country, concentrating in office, multi-family, retail and industrial properties.  Applying a disciplined strategy, ASB manages the Allegiance Fund, its sole vehicle for core investing, a value-add fund and a development separate account.  For more information, please visit www.asbrealestate.com.
*As of 12/31/12

About Lincoln Property Company
The Boston office of Lincoln Property Company, a national commercial real estate company, provides brokerage, investment sales, property management, appraisal/valuation and development and project management services to a wide range of clients. In Massachusetts alone, Lincoln Property Company manages over 13 million square feet of commercial space and is responsible for leasing millions of square feet of space every year. For more information on Lincoln Property Company’s Boston office, visit: www.LPCBoston.com.

About Richards Barry Joyce & Partners, LLC
Richards Barry Joyce & Partners is a full service commercial real estate firm providing creative solutions for its client partners. The company’s focused team approach offers clients a competitive advantage in solving their local, national, and international real estate challenges. Richards Barry Joyce & Partners’ unique platform offers a full range of real estate advisory services including market analysis, capital markets solutions, financial analysis, corporate services, portfolio review, and consulting services.  For more information, please visit our website at www.rbjrealestate.com. Follow us on Twitter at @RBJ_Partners.

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