Infill IOS redevelopment within 20 miles of Boston, MA

As Industrial Outdoor Storage (“IOS”) continues to evolve into a recognized institutional asset class, finding opportunities to capitalize on this trend within land scarce markets is a challenge for both investors and users. 295 Union Street was sourced off-market by Casco in December 2021 – given its value-add profile, infill location relative to Boston, and overall flexibility of the site, it was a highly-attractive acquisition. Increased barriers to entry relative to the overall industrial sector and an increase in aggregation strategies amongst institutional capital made the acquisition even more appealing for Casco.


  • 295 Union Street was sourced off-market by Casco and subsequently closed alongside institutional capital
  • Situated on 16.5 acres, the Property is a two-building logistics portfolio totaling 85,000 square feet
  • Premier infill location relative to Boston with unparalleled highway access adjacent to Route 1 and less than one (1) mile from I-95
  • Upon Closing, Casco permitted and initiated a site-wide capex and repositioning program to modernize the site and buildings to meet institutional tenant specifications
  • Delivered in Q4 2022 – Casco has since leased the Property to “last-mile” logistics tenants who target highly-functional facilities in premier locations with excess outdoor storage

Property Size

85,000 SF / 16.5 Acres

Acquisition Date

December 2021

Delivery Date

December 2022


Casco obtained permits and approvals from various municipal organizations to reposition the Property, with specific improvements including:


    • Repair, replacement, and expansion of existing paved area (includes working with Conservation Commission to add new pavement across 30,000 square feet of degraded riverfront areas)
    • Creation of new underground utility infrastructure servicing the building
    • Expansion and upgrade of existing drainage and stormwater basin
    • Extensive wetland replication and restoration


    • Installation of new exterior insulated metal panels
    • New loading dock packages with specifications that cater to modern distribution users
    • Replacement of HVAC
    • Upgrade and replacement of existing dry sprinkler system to ESFR
    • Installation of new LED lights
    • Power upgrade
    • Built-to-suit office space to match required tenant specifications