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CANTON, MA-Ram Management continued its push into the Southern New England office/industrial market by acquiring a 60,052-sf warehouse/distribution facility at 40 Industrial Way, off Route 138, for $2.5 million. The acquisition marks the second Massachusetts purchase in 12 months for Ram. Last November, the company purchased and developed Bartlett Street Commerce Center in Marlborough, an 11- acre, 110,000-sf office/industrial park.

“We see Massachusetts as a logical place to continue our expansion into Southern New England,” says Brian Gagne, executive vice president of development for Ram. “With our success in converting the former Borden Chemical plant in North Andover (now the North Andover Commerce Center) and the former Butcher’s Wax facility in Marlborough, we want to continue to look for properties to upgrade that add value to the communities we work in.”

The Industrial Way facility currently houses the Massachusetts Lottery Commission, which occupies 32,660 sf and has a lease that expires in several years. Hughes Properties Inc., which represented Ram, has been appointed as the exclusive leasing agent for the remaining 27,392 sf of space, which may be subdivided into 10,525-sf and 16,867-sf units. Mark Donahue of M. Donahue Associates represented the seller, Space Realty Trust.

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