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Two-Year Hunt Ends With Sale-Leaseback

EASTON, MA-Canam Steel Corp. signs a five-year lease for 6,900 sf of office space with Maxton Technology in the $1.5-million trade.

By Beverly Ford | Updated on January 17, 2007

EASTON, MA-A 22,000-sf office/warehouse has sold for $1.5 million in a deal that allows its former owner, Canam Steel Corp., to remain in about 6,900 sf of office space under a five-year sale-leaseback. The buyer, Maxton Technology, will take the remaining space for its cellular phone tower business.

Jim Grady with NAI Hunneman Commercial’s Boston office tells GlobeSt.com that the property at 50 Eastman St., which has been on the market about two years, found “the perfect buyer” in Maxton, which agreed to Canam’s lease-back requirement. The company had used the entire building for steel fabrication, but moved the operation to its other facilities, Grady says.

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