The 140,000-sf building is located within Forge Park. The high-bay industrial property is 100% leased on a long-term basis to Proma Technologies Inc.
The deal is indicative of a recent trend in which investors are looking to purchase industrial properties. The market has remained relatively stable as compared with the area's office market, most specifically in regard to modern space with easy access to the city. According to Spaulding & Slye Collier's most recent statistics, the Route 495 South industrial market has a vacancy rate of 22%.
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