Regions Northeast | Boston
Aug 29, 2008
Cabot Properties has just become the new owner of I-290 Industrial Park, having shelled out $39 million for the 577,000-square-foot property in Northborough, Mass. The transaction, orchestrated by Jones Lang LaSalle's capital markets team on behalf of seller RREEF, also included a parcel of land with the capacity for 45,000 square feet of additional development. Located about 40 miles from Boston just off I-290 and within a few miles of I-495 and I-90, the industrial complex consists of six single-story structures offering manufacturing, distribution, R&D and warehouse accommodations. The property was developed over a five-year period beginning in 1975 and is presently 90 percent leased.
Cabot Properties has just become the new owner of I-290 Industrial Park, having shelled out $39 million for the 577,000-square-foot property in Northborough, Mass. The transaction, orchestrated by Jones Lang LaSalle's capital markets team on behalf of seller RREEF, also included a parcel of land with the capacity for 45,000 square feet of additional development. Located about 40 miles from Boston just off I-290 and within a few miles of I-495 and I-90, the industrial complex consists of six single-story structures offering manufacturing, distribution, R&D and warehouse accommodations. The property was developed over a five-year period beginning in 1975 and is presently 90 percent leased.
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