FOXBOROUGH, MA-A firm that provides logistic solutions and distribution services to the commercial fitness industry has inked a $3-million acquisition deal for a 50,000-sf industrial and R&D building. The single-story property at 65 Green St. will serve as the company's new headquarters.
Mass Movement Inc. had been looking to acquire its own headquarters for about three years before company owners finalized the deal with seller George E. Stephenson Jr., Jim Grady, vice president at NAI Hunneman's Boston office, tells GlobeSt.com. "We got to it pretty quickly. The building hadn't even come on the market when they first started looking at it."
The company, currently located in about 18,000 sf at 25 Walpole Park South Dr. in Walpole, will nearly double in size when it moves into approximately 30,000 sf at its new headquarters. Grady says the firm already has a letter of intent to lease about 6,000 sf and will probably lease additional space in the building's warehouse.
"This building was a great fit for our client's long-term business goals," Grady says. "It has the right combination of industrial and office space, its location will help the company service its customers more efficiently, and it has the possibility of future expansion."
Built in 1981 on six acres near Interstate 95, the class B building is located within the Route 495 South industrial cluster and has room for a possible 20,000-sf expansion, Grady says, who negotiated the acquisition for the buyer.
The building was the second sold by Stephenson, which divested of a 38,400-sf property at 77 Green St. for $2.5 million last August. McCarthy Realty LLC, a subsidiary of Walter F. Morris, Co., a Canton-based plumbing wholesale firm was the buyer in that deal. Cathy Minnerly of Cushman & Wakefield Inc. represented the seller in both transactions.
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