BGO Acquires 132,055-SF Industrial Property in Wrentham, Mass., From Bluewater Property Group and Affinius Capital
BGO, a global real estate investment manager, has acquired 545 Washington Street, a newly constructed, 132,055-square-foot Class A industrial property in Wrentham, Massachusetts, the firm announced Oct. 8. BGO bought the property on behalf of an institutional investor from sellers Bluewater Property Group and Affinius Capital. JLL Capital Markets represented the sellers.
Completed in 2023, the property sits on 13.6 acres and is 100% leased to two tenants, according to BGO.
Property Details at 545 Washington Street
The logistics facility has 36-foot clear heights, 30 dock-high doors, two drive-in doors, 13 trailer parking spaces and 155 vehicle parking spaces. It also has 3,000 amps of power, ESFR fire protection and LED lighting. BGO said the design and configuration provide flexibility for a range of warehouse, distribution and light industrial users.
The property comprises a single logistics building. Specifications such as the clear height, loading capacity and power supply support distribution, warehousing and light-industrial operations.
Location in Greater Boston's South Industrial Market
Located along Route 1, the property provides access to Interstates 495, 95 and 295. It is approximately 21 miles from Providence, 30 miles from Boston and 42 miles from Worcester.
The property is within Greater Boston's South industrial market, which BGO described as an established New England distribution corridor supported by a regional labor pool spanning southeastern Massachusetts and northern Rhode Island.
BGO's Investment Rationale
In the announcement, BGO said the property combines several characteristics the firm continues to value in industrial real estate: modern specifications, strong tenancy, and connectivity to major population and distribution networks. The announcement included a statement that the firm believes the property is well positioned to serve the evolving needs of logistics and distribution users across New England and that it is pleased to make the investment on behalf of its client.
The two-tenant structure provides some diversification compared with a single-tenant building. Full occupancy means the property was acquired with in-place income rather than lease-up exposure.
BGO Platform and Scale
BGO serves more than 750 institutional clients. Together with Bell Partners Inc., which Sun Life acquired and combined with BGO on July 2, 2026, the firm had approximately US$100 billion of assets under management as of June 30, 2026. Sun Life paid US$350 million for Bell Partners, which had approximately US$10 billion of gross asset value under management and managed about 70,000 apartment homes as of early 2026.
BGO has expertise in the asset management of office, industrial, multi-residential, retail and hospitality property, with offices in more than 25 cities across 12 countries. The firm is part of SLC Management, the institutional alternatives and traditional asset management business of Sun Life.
Market Implications
The transaction adds a modern, fully leased logistics asset to BGO's holdings on behalf of its institutional client and reflects continued institutional interest in newer industrial product with in-place tenancy. A 2023-built facility with substantial loading, trailer and power capacity is positioned differently from older industrial stock that may require capital upgrades.
The sale also marks an exit for Bluewater Property Group and Affinius Capital, the sellers of the newly built property. JLL Capital Markets acted as the sellers' representative.
Sources
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