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NORTHBOROUGH, MA-A fund with holdings across the country is reportedly purchasing the I-290 Industrial Park here, which is currently owned by the Ohio Teachers Retirement System. While a broker with the deal has purportedly verified that the six-building complex is under contract, the buyer of the park has not been confirmed. Uncorroborated reports have the RREEF Funds, a broker, manager and seller of investment grade real estate, purchasing the complex on behalf of institutional investors.

The 577,700-sf park, which nearly 95% occupied, sits on more than 50 acres with some of that land available for new development. It is located a few miles from Routes 290 and 495 and is one of the largest industrial parks in the MetroWest area. A number of pension funds were said to be interested in the property.

Last February, RREEF acquired two warehouse/distribution buildings in Franklin, MA for $25 million. Over the past year, the fund made nine industrial purchases totaling 3.54 million sf.

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