Bradford Spencer, vice president with Grubb & Ellis' Boston office, tells GlobeSt.com that the arrangement allowed the Canadian-based Victory to scale back its operation at 25 Shelley Rd. and gave the new owner additional space to rent on the open market. The Winchester-based Evans Packaging, a distributor of recycled paperboard boxes, point-of-purchase displays and packaging materials, will take 50,000 sf for its own use, according to Spencer, who represented the buyer. The seller was represented by Robert Cronin with Meredith & Grew in Boston.
"The new owner particularly liked the fact that there was some upside in the rental stream," Spencer says. The remaining space in the single-story industrial building, located on 14 acres in the Ward Hill Business Park near Interstate 495, is on the market for $3.95 per sf triple net.
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