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NorthBridge Partners Acquires 344,000-SF Clinton Industrial Complex

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NorthBridge Partners Acquires 344,000-SF Clinton Industrial Complex


Hackman Capital Partners, Oaktree Capital Management and Calare Properties Sell Multitenant Facility at 100 Adams Rd.

Northbridge Partners, a Boston-based commercial real estate investment firm, purchased 100 Adams Rd. in Clinton, MA for $20.45 million, or approximately $59 per square foot.

The 345,000-square-foot high-bay warehouse is fully occupied by five tenants, though CBRE-New England is currently marketing 58,852 square feet of space for lease with an occupancy date set for February 2018, according to CoStar information. The complex delivered in 2000 near the Boston & Maine rail line in the Outlying Worcester Industrial submarket.

Chris Skeffington and Andrew Stone of Transwestern Consulting Group placed a long-term, non-recourse loan of $13.9 million on behalf of Northbridge through Middlesex Savings Bank. Proceeds from the loan will finance the acquisition as well as future leasing costs.

The financing for 100 Adams Road consisted of a long-term, non-recourse loan of $13.9 million through Middlesex Savings Bank arranged by Transwestern Consulting Group.
Robert Gibson of CBRE represented the seller.
Please see CoStar COMPS #4057394 for more information on this transaction.


Source: NorthBridge Partners Acquires 344,000-SF Clinton Industrial Complex

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