The deal was brokered by CB Richard Ellis/New England, which represented the seller iStar Financial and procured the buyer. The 206,000-square-foot building sits on the 23-acre community with a full occupany leased by Celestica Incorporated. The lease runs until 2015, along with roughly 75,000 square feet subleased of the warehouse space to Kittery Trading Post.
The building is divided into 64,000 square feet of office, 142,000 square feet of high-bay manufacturing warehouse with an expansion potential of up to 100,000 square feet through the "optioning of an additional 10 acres" according to a release. David Pergola, Mark Reardon, Patrick Cavanagh, Gary Lemire and Magaret O'Brien of CBRE/New England repped iStar in the deal.
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