(To read more on the industrial market, click here.)
SHREWSBURY, MA-The 400,000-sf R&D facility at 334 South St.has traded hands in less than a year, delivering a 34%-profit of$9.4 million to the seller, a joint venture between Boston-basedCrossHarbor Capital Partners and Suffolk Advisors. The buyer isWilmington, MA-based Charles River Laboratories Inc.
According to public records, Charles River paid $27.4 million,or $68.50 per sf, for the building. GlobeSt.comreported that the CrossHarbor/Suffolk JV acquired the propertyfrom Hewlett Packard's surplus real estate for $18 million, or $45per sf, in November 2004, despite an earlier asking price of $30million for the asset.
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