The deal is the latest in a series of transactions with these types of properties and typifies a recent trend in which users decide to purchase rather than lease their space. Recently Geosearch Inc of Sterling purchased 20 Authority Dr., a 50,200-sf industrial building in Fitchburg, while Merrimack Education purchased 80 Brick Kiln Rd., a 7,500-sf property in Chelmsford. Also, Quaker Fabric Corp. signed a purchase and sale agreement for a 600,000 sf industrial building at 81 Commerce Dr. in Fall River. Michael C. Jacobs, of Glickman Real Estate, attributes the trend to the continuing low interest rates.
Lease rates for this type of space are about $6 per sf. Micah Stubblebine of the Stubblebine Co. represented the Bomak, while Ed Carbone of Carbone Real Estate represented ServiceMaster.
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