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RAM Management Co. Buys Billerica Warehouse in $15M Sale-Leaseback Deal
Scarborough, ME-based RAM Management Co., has purchased a single-tenant warehouse totaling 91,737 square feet in Billerica, MA in a $14.5 million sale-leaseback deal.
Michael Restivo and Lenny Pierce of JLL represented the seller, Iron Mountain Information Management, which will continue to lease the space at 96 High Street as the tenant.
“The acquisition speaks to the resiliency of Boston’s north industrial submarket,” said Restivo. “Despite macroeconomic headwinds, the demand for space continues to increase across flex, R&D and warehouse.” According to JLL’s Boston Industrial Insight – Q3 2022 report, demand has shifted away from larger distribution centers to smaller spaces, with 70% of leases in the last quarter for 100,000 square feet or smaller.
The property, originally constructed in 1985, features a total of 10 loading doors, 38 surface parking spots and ceiling heights rising to 27’ in the front warehouse and over 44’ in the rear.
96 High St. is located on 17.74 acres and can serve as a last-mile distribution facility for Boston, Cambridge and Somerville.
- ◦Sale/Acquisition
