"This was a very complicated transaction involving cross-collateralization, collateral substitution rights and the ability to "condominiumize" one or all the sites for expansion purposes," says Ashworth. "The process was completed start to finish in under 60 days."

The first of the properties is located at 85 Moosup Pond Rd. in Plainfield, CT. The 531,000-sf industrial facility was built in 1972 on a nearly 81-acre site. The property has 12 interior dock doors with levelers, 25 exterior docks with seals and levelers, five ground level garage style roll up doors and is accessed by a rail spur which is accessible by seven doors. The ceiling heights are 20 ft. Staples occupies 100% of the space.

A 68,000-sf free-standing, single-story industrial building at 151 Suffolk Lane in Gardner, MA is included in the portfolio. The facility was built in 1999 on a nearly seven-acre site in Summit Industrial Park. The building has a fireproof steel frame over a concrete slab with concrete block exterior walls as well as three drive-in doors and four tailgate height doors with a clear height of 20 ft. Woods Equipment fully occupies the space.