The buildings total 270,000 sf and are currently occupied by Globalware, which uses the space as its headquarters. They are located in the heart of Ward Hill Industrial Park, a 725-acre complex near Route 495. Peter Merrigan, managing partner at Taurus, tells GlobeSt.com that the company, which provides software contract manufacturing, digital content management, and e-Business solutions for high tech companies, is planning to go public and wanted to restructure its assets and decided to sell these properties. Globalware also has office in Europe and on the West coast.

"It's a good property and a pretty attractive deal," says Merrigan. He notes that his company is always looking to invest in industrial space, a market that he points out has not been hit as hard in the recent economic downturn as the office market. Merrigan attributes the strength of the industrial market in the area to the fact that there is not as much new supply. "It was not as overbuilt [as the office market] and it has held up better," he says, referring to the industrial market, but, he adds that the demand for industrial space is limited. "It's a pretty slow market."

Globalware signed a 15-year lease for the two buildings at a rate of $6.50 per sf to start. The rate is subject to various increases over the years. Merrigan says that the rate is reflective of the market.

Taurus New England Investment Corp. is a subsidiary of Taurus Investment Group LLC, a real estate investment firm based in Boston with five regional offices in the US and Canada, as well as an office in Munich, Germany. Since its inception, Taurus New England has purchased and sold over 7.5 million sf of commercial office, industrial retail, residential and hotel assets located throughout Greater Boston. Greenstreet/Niosi Capital Partners, formerly known as The Patronis Group, LLC, and its affiliates maintain offices in New York and Miami.