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Banker & Tradesman
September 8, 2005
Leggat McCall Properties acquired a 211,600-square-foot warehouse building in Northborough for $11.5 million.
The building was sold by 1919 Leavit Trust and was brokered by NAI/Hunneman Commercial Co.
The warehouse/manufacturing building is located at 11 Forbes Road and is fully leased to Graybar Electric Co.
"This is an excellent acquisition for us, and offers expansion potential as well as future upside from re-leasing," said Christine Stone, partner at Leggat McCall Properties, in a statement "This suburban submarket, is very popular among industrial and office companies."
Built in 1988, 11 Forbes Road is a high-bay manufacturing/warehouse facility. The warehouse portion of the building includes 160,000 square feet in a single-story structure with a 34 foot clearance. The two-story office/R&D section includes 51,600 square feet. Located on 19.3 acres of land just off of Interstate-290 and 1.5 miles west of Route 495.
Leggat McCall Properties, which currently has more than $600 million of assets under development or redevelopment. Since 1978, Leggat McCall Properties has developed or acquired more than seven million square feet or $2 billion worth of assets.