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FRANKLIN, MA-A maker of metallic and holographic papers paid $10.8million for a 140,000-sf warehouse and manufacturing facility in Forge Park. The firm outbid at least eight other investors to take ownership of a building that has been its home for the past several years.

Vacumet Corp., the property’s sole tenant, held a 20-year lease on the 24 National Dr. building, Christopher T. Griffin, with Cushman & Wakefield’s Capital Markets Group tells GlobeSt.com. “We had a lot of investors look at the building based on its stabilized cash flow because of the (Vacumet) lease, but at the end ofthe day, the tenant stepped up and outbid the other buyers.”

“In addition to price, there were a number of reasons (for theseller) to go with them,” says Griffin. He notes that among those reasonswas the buyer’s familiarity with the building which allowed it to forgothe due diligence process. In addition to Griffin, the seller, Griffith Properties of Boston, was represented by Robert E. Griffin, Jr., Edward C. Maher, Jr. and Marci Griffith Loeber, also with Cushman & Wakefield’s Capital Market Group. The Cushman & Wakefield team also handled the negotiations with the buyer.

The site has expansion potential in the 1.7 million-sf Forge Park. Originally constructed in 1993, the property was expanded in 2001 to include 14,000 sf of office space along with high-bay docks.

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