Jeff Borus, principal at Glickman Real Estate represented Muner, of Grafton MA, in the transaction while Mark Reardon of CB/Richard Ellis represented Precise. Precise Technologies has another location in Holden MA. The warehouse is situated on 16 acres of land, nine of which are located across the street from the facility. Borus tells GlobeSt.com that Muner subdivided those nine acres and sold them to a number of companies who plan to use the site for industrial use.
Borus notes that the area is a predominantly residential one. He says that Muner has indicated he plans to lease out the building to either one user or a number of users. Lease rates for industrial space in the area are approximately $3.50 per sf, as compared with the Greater Boston area, where lease rates for industrial space are about $6 per sf.
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