DH Property Holdings, LLC, a leading developer and owner of urban infill industrial logistics facilities, has acquired an industrial property at 54 Bodwell Street in Avon, Massachusetts. This is DHPH’s fourth industrial acquisition in the Boston market in the past year and increases their total capitalization in Boston to $120.3 million across 433,450 square feet of space.
The 4.64 acre site accommodates a 70,337 square foot warehouse facility formerly owned and occupied by Brockton Furnace & Duct Distributors, Inc. . DHPH plans to undergo a capital expenditure program to improve the building’s functionality.
Located a half mile from Route 24 and six miles from I-93, 54 Bodwell Street is ideally located for manufacturing, warehouse and last mile distribution tenants. It is also located in the same Industrial Park as 61 Strafello Drive, DHPH’s recently acquired 4.5-acre site and 60,000-square-foot industrial facility. Ovar Osvold of Colliers International will handle leasing for the 70,337 SF of vacancy available at the property.
In addition to these properties, DHPH currently has more than $2.5 billion under management across more than 5 million square feet of Class-A urban warehouses, completed or under development throughout the Northeast, including in New York City, Boston, New Jersey and Philadelphia .
“The Boston market has seen accelerated demand amid a steadily declining supply of suitable Class-B industrial space with extremely limited site options for development,” said DHPH founder and principal Dov Hertz. “Our team remains focused on delivering highly functional logistics facilities in challenging urban core locations.”
As part of EIB Ventures I, DHPH has acquired eight Class-B industrial buildings in the Northeast since June 2021, for a total capitalization of $148.8 million over 698,000 square feet. Hertz Realty Group’s Branden Hertz arranged the Avon deal.
Founded in 2016 by Dov Hertz, DHPH is a Manhattan-based industrial real estate development, investment and management firm that has been at the forefront of the industrial logistics trend, developing best-in-class distribution warehouses in complex and challenging urban environments . The company developed 640 Columbia Street, the first multi-story logistics center in New York City.