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NORTHBOROUGH, MA-RREEF, a real estate investment management group, acquired the I-290 Industrial Park here for $30.5 million. The six-building research and development and industrial complex comprises 578,000 sf of space.

Michael Smith and Scott Jamieson, a principal and senior vice president respectively at Spaulding & Slye Colliers represented the seller, the State Teachers Retirement System of Ohio, and procured the buyer. The complex is currently 89% occupied and Spaulding & Slye has been retained to lease the property. A three-acre site is part of the existing property and it has the potential to be developed into an additional 45,000 sf of industrial space.

RREEF is a real estate management group with offices in New York City, Chicago and San Francisco. This year, the company made 31 acquisitions in this state, Oregon, Texas and California for a total of $1.1 billion.

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