(Read more on the industrial market.)
PEABODY, MA-Barely a year after acquiring a 134,000-sfflex/industrial building in this North Shore community, aWinchester real estate investment firm has traded the asset for$12.9 million. The building at 13 Centennial Dr. is fully leased toADP Investor Communications Services Inc.
"We saw the strength of the investment market and felt the timewas right to sell based on the high-quality tenant, theinstitutional quality of the asset and the term remaining on thelease," says Chub Whitten, a principal for RFP Juniper CentennialLLC, whose firm acquired the building vacant in June 2006 for $7.8million. That equates to $58 per sf, versus the $96 per sf paid bythe buyer, Columbia Massachusetts Centennial Industrial LLC.
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