X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

NORTON, MA-A month ago Polaroid Corp. announced it was selling it Cambridge Reservoir site in Waltham, MA, a deal that could bring in more than $100 million, as reported by Naomi Grossman for GlobeSt.com. Now, another recently completed site that still bears Polaroid’s name has been sold and the new owners have obtained mortgage financing for it in the amount of $12 million.

An affiliate of Campanelli Companies has purchased the Polaroid Americas Logistics Facility here. Before the instant imaging company’s building was even finished, it was on the block and the ink was drying on the deal.

Sun Life Assurance Co. of Canada is providing the loan; Spectrum Financial Corp. serves as the company’s mortgage loan correspondent. The site is located on 31 acres with a 336,000-sf warehouse and distribution facility. It’s on Route 140, one mile from the interchange of Route I-495 and three miles from Route I-95 in what is a growing suburban market.

The Waltham site put on the block consists of four buildings totaling 536,000 sf of space on 56 acres the company purchased in the late 1960s. At the time the sale was announced, a company spokesperson adamantly told GlobeSt.com the sale did not reflect financial difficulties for the company, simply a desire to cash in on the hot real estate market in the area. Grubb & Ellis is serving as the broker for that deal.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 3 free articles* across the ALM subscription network every 30 days
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

GlobeSt. NET LEASE 2020Event

This conference brings together the industry's most influential & knowledgeable real estate executives from the net lease sector.

Get More Information
 

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2020 ALM Media Properties, LLC. All Rights Reserved.