Client Success

Congratulations to our client, First Highland Management, on the development and sale of portion of Readville Yard 5

August 26, 2022

Sherin and Lodgen congratulates it’s client, First Highland Management and Development Corporation, on the successful development, construction, and sale of a major portion of the Yard 5 project on Industrial Drive in Readville, Hyde Park, MA. First Highland acquired the 20 acre site from the MBTA and commenced permitting in 2014. First Highland obtained permits for five buildings comprising 250,000 square feet of industrial use and a four acre National Grid natural gas service center. At the time of the sale, tenants include Tesla, Dana-Farber, Bodega, Clover, and ePac, in addition to National Grid. Intercontinental Real Estate Corporation acquired Yard 5 for approximately $105 million.

Sherin and Lodgen is proud to have represented First Highland in connection with the acquisition, permitting, financing, construction, leasing and sale of the project. The Sherin and Lodgen team included Ronald W. Ruth, Laura Kaplan (sale and leasing), and Ian T. Lane (financing).

The Real Estate Department at Sherin and Lodgen is one of the deepest in New England and assists clients in the full range of real estate matters. The department handles every type of real estate transaction including acquisition, disposition, development, land use planning and permitting, public-private projects, leasing on behalf of owners and tenants, title review, construction and design contracts, ground and air rights leasing, and financing. The department’s real estate attorneys strive to understand the business challenges of the transaction, combining sophisticated legal acumen with practical insights.

About First Highland Management and Development Corporation

First Highland Management and Development Corporation is a Boston-based industrial real estate development firm with innovative specialties including acquisition, reposition, redevelopment, new construction, property & asset management, and third-party logistics/distribution services.  First Highland’s innovative, adaptive approach and experience has led to the successful development and redevelopment of over 12 million square feet of industrial property in the Midwest and Northeast markets. With over 125 years of combined experience of its principals & management team, and with a history of responsiveness to its customer base of businesses, brokers, and owners, First Highland is well-positioned for the industrial opportunities of the future.