Brookfield Real Estate Income Trust has acquired 34 Market St., a 222,000-square-foot distribution center in Everett, MA, from The Davis Companies. The Boston Business Journal reported that Brookfield REIT paid $155 million for the property and that the tenant is Amazon, which also occupies eight other distribution facilities in Greater Boston.
Dana Petitto, portfolio manager and COO of Brookfield REIT, said, “The addition of 34 Market St. further
enhances our high-quality logistics portfolio and strengthens our roster of commercial tenants. Newer vintage, last-mile distribution facilities of this scale and functionality are generally scarce, particularly in dense urban submarkets like Greater Boston, where demand continues to be driven by e-commerce growth and the need for proximity to end consumers.”
Davis acquired the Everett parcel for just $28.5 million in 2019 and opened the Amazon-leased facility in 2022. The site formerly was home to the Boston Market Terminal, a produce distribution hub.
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