Search
 

Preferred Real Estate Acquires 261-Acre Texas Instruments Site

ATTLEBORO, MA-Preferred Real Estate Investments signs a purchase and sale agreement for the 261-acre Texas Instruments site. The property, which Texas Instruments owns, consists of 966,000 sf of buildings off Route 123. As part of the deal, Preferred will build a 220,000-sf facility that it will lease back to Texas Instruments.

By Naomi Grossman | Updated on September 01, 2004

ATTLEBORO, MA-Preferred Real Estate Investments inked a purchase and sale agreement for the 261-acre Texas Instruments site. The property, which Texas Instruments owns, consists of 966,000 sf of buildings off Route 123. Financial terms of the agreements were not disclosed.

As part of the deal, Preferred agreed to build a new 220,000-sf business and technology center on undeveloped land at the site that it will lease back to Texas Instruments for at least 20 years. Texas Instruments will also sign a 10-year lease on an additional manufacturing space on the current site. A final closing is expected before the end of the year.

Conshohocken, PA-based Preferred is a commercial real estate developer focusing on the acquisition, restoration, leasing and property management of existing commercial and industrial real estate in the Mid-Atlantic region. This is the company’s third foray into the Northeast, although previous projects took place more than a decade ago and consisted primarily of retail and flex developments.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.