February Activity Report

I-495 North / Route 2 – February Activity Report

- Singapore real estate investment firm GIC , together with Chicago based Oak Street Real Estate Capital LLC , completed the acquisition of a 2,800-property portfolio which included five flex industrial buildings in the 495/Route 2 Submarket totaling 245,000 square feet. GIC and Oak Street purchased the real estate portfolio from the Scottsdale, Arizona based net-lease REIT, STORE Capital , for approximately $15 Billion Dollars (all outstanding shares of common stock at $32.25 per share).

- The ‘Littleton Mill’ building at 410 Great Road sold to Lupoli Companies , the real estate development firm based in Lawrence, for $5.3MM. Lupoli Companies is also working on converting the former IBM building on King Street into a major mixed-use apartment and retail development with about 780 residential units planned.

- 530 Main Street in Clinton, a 92,000 square foot mill building, sold for $2 million, or $21.72/sf in a sale leaseback transaction. Worthen Industries, a Nashua based chemical and technology manufacturer, sold the property to Cunningham Equities , the Worcester based real estate developer. Per Cunningham’s website: “Cunningham Equities is a transformational developer that specializes in the selection, design, construction, and stabilization of residential and commercial properties in ignored historic and unappreciated locations in Massachusetts.”

- Rhino Capital Advisors purchased 40 Commerce Way in Tewksbury, a 65,000 square foot distribution site, from Atlantic Management for $2.4 million, or $31.17 per square foot. R.W. Holmes Commercial Real Estate represented Rhino Capital in this transaction. The building is now available for lease and would accommodate a myriad of uses including light manufacturing, R&D, warehousing and distribution.