Rockpoint Acquires Premier Industrial Distribution Facility in Worcester Submarket

Builds on Firm's Growing Portfolio of High-Quality Industrial Assets

Rockpoint's Dedicated Property Services Affiliate, Rockhill Management, to Provide Property Management Services

BOSTON, Feb. 6, 2025 /PRNewswire/ -- Rockpoint, a Boston-based real estate private equity firm, today announced the acquisition of Uxbridge Distribution Center, a high-quality industrial distribution facility located on a 70-acre site in Uxbridge, Massachusetts. Financial terms of the transaction were not disclosed.

Completed in 2023 and comprising more than 607,000 square feet, the cross-dock industrial distribution facility is ideally located in the Worcester submarket less than an hour from both Providence and Boston. The location provides convenient access to both of Massachusetts' primary distribution corridors and the surrounding labor talent markets. The property benefits from highly functional physical attributes, including ample parking space, outdoor storage, and built-in flexibility to accommodate single- and multi-tenant configurations. Approximately 73 percent of the space is occupied with a long-term lease. The remaining vacant space is in shell condition and includes sought-after adjacent outdoor storage and a parking field.

Rockhill Management ("Rockhill"), Rockpoint's dedicated property services affiliate, will provide property management services to the Uxbridge Distribution Center.

"As we grow our industrial portfolio, this newly constructed, high-quality property represents a compelling investment opportunity in a high barrier-to-entry market that we know well," said Fred Borges, Senior Managing Director at Rockpoint. "Greater Boston has experienced consistent industrial rent growth, driven by strong demand for preeminent space and a range of factors limiting the production of new supply, including a limited number of suitable, well-located sites."

"Uxbridge Distribution Center is well designed, with the flexibility to meet the needs of today's industrial businesses and to accommodate a wide range of applications," said Ben Harris, Head of Rockpoint Industrial. "The Rockpoint and Rockhill teams look forward to building value for this property and serving its tenants."

The transaction underscores Rockpoint's continued focus on high-quality industrial assets following its recent purchase of phase two of Gateway Logistics in the Tampa area and development of Race Track Logistics, a trophy industrial site in Pompano Beach, Florida. Rockpoint has made 13 industrial investments since 2020, representing more than 12 million square feet.

About Rockpoint
Rockpoint is a real estate private equity firm that employs a fundamental value approach to investing, targeting select product types and markets throughout the United States. The firm applies a consistent and disciplined investment approach across its investment programs, which span distinct return profiles. Rockpoint continually assesses market opportunities and evaluates potential investments relative to intrinsic value, replacement cost, and cash flow, and targets investments that Rockpoint believes are inefficiently priced or misunderstood by the broader market. Rockpoint proactively pursues opportunities that exhibit strong value potential that can be realized through impactful asset management. Since 1994, the firm's co-founders with others have sponsored 19 investment vehicles and related co-investment vehicles through Rockpoint and a predecessor firm and have invested or committed to invest in 503 transactions with a total peak capitalization of approximately $80 billion. To learn more, visit www.rockpoint.com.

About Rockhill Management
Rockhill Management, L.L.C. ("Rockhill"), an affiliate of Rockpoint, is a dedicated property services management company that serves commercial and residential properties in select markets throughout the United States. Rockhill employs a responsive, tailored approach and the most current technologies to property and relationship management in order to deliver customized service, premium amenities, and intentional communities across Rockpoint's portfolio. Since inception, Rockhill has provided property management, project management, and other services to properties representing approximately 54.6 million square feet. To learn more, visit www.rockhillmanagement.com.

Contact

Sarah Salky / Erik Carlson
Joele Frank, Wilkinson Brimmer Katcher
(212) 355-4449
rockpoint-jf@joelefrank.com

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SOURCE Rockpoint Group, L.L.C.