A modest warehouse tucked behind Route 1A in Revere just closed for anything but a modest price. Stockbridge Capital Group has picked up the shallow‑bay facility at 3 Furlong Drive for $45 million, according to public records. The 17,098‑square‑foot building, used for FedEx drop‑offs and pickups and sitting in the orbit of the massive Suffolk Downs redevelopment, last sold for about $38 million in 2022, so the latest trade is a sharp mark up for the site.
As reported by Bisnow, public‑record filings show Stockbridge acquired the Revere property from Link Logistics, the industrial platform once held by Blackstone. Bisnow notes the transaction was first spotted by Banker & Tradesman and points out that the building’s small footprint hardly matches its outsize sale price. The outlet also records the prior 2022 sale price for the site.
Buyer: Stockbridge’s footprint
According to Stockbridge, the San Francisco real estate investment firm manages roughly $37.4 billion in assets and has been steadily bulking up its logistics holdings. The company has added industrial assets in the Boston region before, including an 85,000‑square‑foot purchase in Walpole in 2025, signaling continued appetite for infill logistics plays documented in regional deal coverage. CoStar and market reports show Stockbridge is selectively active across Greater Boston rather than spraying money around indiscriminately.
Seller and local development
Link Logistics, Blackstone’s industrial arm, is hardly retreating from the area. The firm recently delivered the first phase of the Trident Logistics Center, a 366,000‑square‑foot speculative distribution building at 101 Lee Burbank Highway. Link Logistics’ listing for Trident and JLL’s project brochure pitch the complex as an urban‑adjacent last‑mile hub with quick access to Logan Airport and Route 1A, which helps explain why infill parcels in this corridor can command a premium. See the Trident property materials from Link Logistics and the JLL‑linked brochure for full specs and marketing language.
Price per square foot and market signal
The math on 3 Furlong Drive is eye‑opening: $45 million for roughly 17,098 square feet pencils out to about $2,633 per square foot, based on the reported sale price and listing data. That kind of number underscores how far buyers are willing to go for scarce infill industrial land that supports last‑mile deliveries, a pattern echoed in recent large logistics transactions across the Boston market. Core sale details are laid out in Compass property listings and public‑record coverage, while additional deal reporting from Bisnow and broader market pieces such as recent Boston‑area logistics coverage from Connect CRE help show how aggressively investors are chasing urban‑proximate distribution space.
