Two months prior, Ram picked up another industrial property in Canton, a 60,052-sf warehouse/distribution facility that houses the Massachusetts Lottery Commission. Ram also developed and owns the Bartlett Commerce Center here and the North Andover Commerce Center.

"We see Massachusetts as a logical place to continue our expansion into southern New England," Brian A. Gagne, executive VP of development for Ram, says in a statement. "Our recent acquisition in Canton, coupled with our existing portfolio in the region, has put us in a strong position to gain market share."

Ram Management aggressively pursued the asset, according to Ogden Hunnewell, Nordic Properties president. "We had an investor that really wanted to be in the area," he tells GlobeSt.com. "And they had pursued it persistently since last spring. It was a good offer and we all concluded that the timing was right, so we completed the sale."

The building sits on 17 acres and is located just off Interstate 495. Ram plans to make extensive upgrades, and will retain Hughes Properties Inc. of Framingham to handle the leasing and marketing of the property, which has "several" interested parties, according to Gagne. The building is currently 50% leased to Ken's Foods.

Hughes Properties Inc., procured the buyer, 445 Simirano Dr. LLC, which was represented by Gagne, while Bob Gibson of CB Richard Ellis and Austin Smith of Lincoln Property represented the seller, Craneview Investments LLC, of Burlington. Hunnewell and J. Daniel Bowden, VP and director of finance at Nordic Properties, negotiated on behalf of the seller.