34 Market Street
Industrial / logistics (net lease warehouse & distribution) property in Everett, MA — sponsored by Brookfield
Files with the SEC as BREX Net Lease Industrial I DST
Minimum investment
$100k
Offering size
$80.1M
How much has sold
95.0%
Asset type
Industrial / logistics (net lease warehouse & distribution) property
Location
Everett, MA
Financing
Leveraged. This offering reports mortgage debt on the property.
Sponsor-reported, from SEC filings and cited sources.
What is this, in one paragraph?
BREX Net Lease Industrial I DST is a Delaware statutory trust — fractional real estate ownership that can serve as 1031 replacement property — holding a single warehouse and distribution center in Everett, Massachusetts, built in 2022 and triple-net leased to Amazon.com Services LLC.1 Interests are sold privately under Rule 506(b) to accredited investors, those meeting SEC income or net-worth tests, without general advertising.
Min $100k; NNN 12-yr lease, inv-grade tenant (Amazon per CompStak comps); 100% occ; $155M price; $84M mortgage; $45.8M/$80.1M sold
Show sources (8)Hide sources (8)
These links support the public record as a whole; individual details may come from different sources.
On a 45-day clock? Find day 45 and day 180 from the sale date, then come back to this record.
What exactly is the property?
The prior owner, The Davis Companies, replaced the building then on the site with a new industrial distribution facility and reports an October 2022 lease commencement.4 Sponsor offering material describes the result as a single-story, Class A warehouse and distribution center constructed in 2022 and purpose-built for Amazon.1 Connect CRE reported that Brookfield Real Estate Income Trust bought it from Davis for $155 million.2
- Property address
- 34 Market Street, Everett
- Property size
- 222k SF
Who is the tenant, and what's the lease?
Sponsor offering material identifies the tenant as Amazon.com Services LLC, with the lease guaranteed by Amazon.com, Inc., about 12 years of term remaining and three five-year renewal options.1 Triple-net means the tenant pays taxes, insurance and maintenance directly, leaving the landlord's obligations narrow.
How are sales going?
These are the sponsor’s own numbers. They can lag what has actually sold, and they do not confirm that interests are still available.
95.0% reported sold
- Amount sold
- $76,330,714
- Still available
- $3,724,651
- Investors reported
- 113
- Total offering
- $80,055,365
See how much of this offering has soldSign in by email and confirm you’re an accredited investor.
How is it financed, and what does it pay?
Leveraged means the building carries mortgage debt alongside investor equity, secured by the property itself, with the lender's claim sitting ahead of investors'. Sponsor offering material names PNC Bank as the lender on a seven-year, interest-only loan maturing March 23, 2033.1 The public Form D record states no loan terms at all.
- Financing
- Leveraged. This offering reports mortgage debt on the property.
Who's behind it?
Brookfield Real Estate Exchange LLC sponsors the offering, with BREX Manager LLC serving as manager and signatory trustee; it sits within Brookfield Asset Management and is an affiliate of Brookfield Real Estate Income Trust, the firm's non-traded REIT.1 That REIT announced the acquisition of this same Everett building on March 31, 2026. Its portfolio page lists the property at 100% ownership, fully net leased to an investment-grade credit tenant.3
- Sponsor
- Brookfield
- Legal Trust name
- BREX Net Lease Industrial I DST
- May convert to a REIT
- No
- Offerings from this sponsor
- 2 active / 4 total offerings from Brookfield
Reported by the sponsor. Top1031 does not independently audit sponsor-reported figures.
What does the paperwork say?
The Trust noticed its offering on Form D — the brief SEC notice that exempt private placements file — then amended it repeatedly, each amendment restating cumulative sales and investor counts as of that date. The issuer reported a first sale on May 4, 2026.5 Because the offering carries no general solicitation, interests reach accredited investors through existing relationships.
- First Form D filedThe public offering record begins.
- Offering amount recordedA Form D amendment recorded offering and sales totals.
- Filing record updatedA later amendment updated the sponsor’s filing record.
- Latest Form D filedThe most recent sponsor-filed checkpoint in this record.
- Filings on record
- 10
- How it may be offered
- Rule 506(b)Not advertised publicly. Offered through existing relationships.
- Source filing
- Read the filings on SEC EDGAR
A Form D is the notice a sponsor files when it starts raising money. A Form D filing does not mean the SEC approved, endorsed, or verified the offering.
DST interests are illiquid private securities. You may lose some or all of your investment. Distributions, tax treatment, and exit timing are not guaranteed. Review the current Private Placement Memorandum before investing.
Common questions
Is 34 Market Street still raising money?
Top1031 lists 34 Market Street as active because the sponsor is still filing with the SEC. That does not confirm that interests remain available.
Where does Top1031 get the data for 34 Market Street?
Top1031 builds this record from the sponsor’s own SEC filings and cited sponsor disclosures. Filings can lag what is happening now. A Form D filing does not mean the SEC approved, endorsed, or verified the offering.
What does this Trust actually own?
One asset: a roughly 222,000-square-foot warehouse and distribution center at 34 Market Street in Everett, Massachusetts, less than five miles north of downtown Boston. Sponsor offering material posted by Baker 1031 describes it as a single-story, Class A facility constructed in 2022 and purpose-built for Amazon. Connect CRE reported that Brookfield Real Estate Income Trust acquired the building from The Davis Companies for $155 million. The public SEC Form D filings themselves describe no property.
Who is the tenant, and what are the lease terms?
Sponsor offering material identifies the tenant as Amazon.com Services LLC, with the lease guaranteed by parent Amazon.com, Inc., and the building fully triple-net leased — meaning the tenant pays taxes, insurance and maintenance directly. That material cites about 12 years of remaining term, 2.5% annual rent increases, no discretionary termination or contraction rights, and three five-year renewal options at 98% of fair market value. The prior owner's property page states an October 2022 lease commencement. The PPM — the private placement memorandum that is the offering's full disclosure document — is where to confirm the actual dates and terms.
Does the Trust carry mortgage debt?
Yes. The filing record describes a leveraged structure, meaning the property was bought with a mortgage as well as investor equity. Sponsor offering material reports an $84,000,000 PNC Bank loan alongside up to $80,055,365 of equity, roughly $164.1 million of total capitalization, and describes the loan as a seven-year, interest-only facility maturing March 23, 2033. The public Form D states none of this, so the loan documents and the PPM are where to verify it.
Is there a 721/UPREIT exit?
The record here shows no REIT conversion feature. A 721 or UPREIT exit is where DST interests are later contributed to a REIT in exchange for operating-partnership units instead of the property being sold for cash. Because the sponsor is an affiliate of Brookfield Real Estate Income Trust, which announced buying this same building, the PPM is the place to confirm whether any such right exists.
Who acquired the building — the Trust or Brookfield's REIT?
Public coverage names the REIT. Brookfield Real Estate Income Trust's March 31, 2026 announcement, along with CoStar News and Connect CRE reporting, describes the non-traded REIT as buyer of the Everett asset from The Davis Companies for about $155 million. The sponsor of this Trust, Brookfield Real Estate Exchange LLC, is an affiliate of that REIT, but no public source sets out how the two entities hold the asset or when the DST took its interest.
How current is the availability shown here?
It reflects the most recent Form D amendment, filed August 27, 2026, on a record that began with the original Form D on May 22, 2026. Form D and its amendments state cumulative totals as of the filing date rather than live availability, and the minimum investment reported throughout is $100,000. Only the sponsor or a participating broker-dealer can confirm whether units remain today.
Chapter 9BreX Net Lease Industrial I DST raises $8.15MBreX Net Lease Industrial I DST has raised $8.15 million as of May 22, 2026, toward its total offering goal of $80.1 million. April DST Sales Fall Nearly 20% From March High; Ares Leads YTD with 21.3% ShareBrookfield Real Estate Exchange's BREX Net Lease Industrial I DST also launched in April, seeking to raise approximately $80.06 million. Brookfield REIT returns to acquisitions with Amazon warehouse dealCoStar trade-press coverage of Brookfield REIT's $155M Amazon-leased 222,000-SF purchase of 34 Market Street in Everett, MA. Brookfield REIT Acquires Amazon-Leased Warehouse from DavisBrookfield Real Estate Income Trust acquired 34 Market St., a 222,000-square-foot distribution center in Everett, MA, from Davis for $155.4 million. Brookfield REIT Announces Acquisition of Net Lease Logistics Asset in Greater BostonSponsor/REIT press release announcing Brookfield REIT's $155M acquisition of the 222,000-SF 34 Market Street distribution center in Everett, MA (Amazon-leased).