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Rhino Capital Acquires Kidde-Fenwal Facility in Off-Market Deal
Rhino Capital Advisors paid $27.87 million for a two-building industrial property totaling 218,316 square feet at 400 Main St. and 50 Leland Ave. in Ashland, MA, a western suburb of Boston. JLL Capital Markets represented the sellers, Florida-based Pout Rock LLC and Cold Spring Brook LLC, in the off-market sale to Rhino.
The property is fully leased to a single tenant, United Technologies subsidiary Kidde-Fenwal, a market leader in the design and manufacture of advanced fire suppression systems. The 18-acre site encompasses two buildings, which support Kidde-Fenwal’s manufacturing, warehouse and back-office operations, and features 5,000 amps of power and 10 loading docks. The tenant has operations in the U.S., the UK and India.
The Boston-based JLL Capital Markets team representing the sellers was led by managing directors Michael Restivo, Bob McGuire and Sam Crossan, along with directors David Coffman and Tommy Hovey.
- ◦Sale/Acquisition
