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CHICOPPE, MA-Friendly Ice Cream Corp. is renewing the entire industrial/warehouse building at 1045 Sheridan St., totaling 62,000 square feet. The chain restaurant company uses the facility as a central storage for perishable and non-perishable foods and supplies for area restaurants. The chain had its original restaurant in Springfield, MA and is headquartered in Wilbraham, MA. The company has 515 stores throughout the northeast and southeast, while distributing their ice cream to over 4,000 supermarkets.

The property is owned by a joint venture between KBS REIT I–a publicly offered, non-traded real estate investment trust–Hackman Capital Partners and Calare Properties. The JV acquired the building as part of a portfolio which was purchased for $516 million in August 2007. The portfolio included 23 other industrial warehouse and light manufacturing facilities. KBS REIT I makes up 80% of the JV, while the other two companies combine for the remaining 20%.

KBS would not comment on the terms and the length of the lease, however according to Cushman & Wakefield, industrial space in the Worchester submarket goes for an average of $4.86 per square foot. Chicoppe, MA is just shy of 40 miles west of Worcester.

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