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The fulfillment provider is relocating operations from 235 Barnum Road in Devens where it occupies 184,077 square feet. The lease deal was announced by brokerage firm Newmark Knight Frank.
Pending single-family homes sales have been higher for 12 consecutive months, while pending sales in the condominium sector have been down or flat four out of the last 12 months, according to MAR.
The acquisition of ABC is accretive to earnings and part of a plan to consolidate the building products distribution sector on a national scale, says Timothy Meyer, a co-founder and managing partner of Angeles Equity Partners.
The East Park SRO renovations were funded through a mix of equity from federal low-income housing tax credits, a grant from the Federal Home Loan Bank of Chicago and debt financing from the Illinois Housing Development Authority.