Rhino Capital Advisors paid $27.87 million for a two-building industrial property totaling 218,316 square feet at 400 Main St. and 50 Leland Ave. in Ashland, MA, a western suburb of Boston. JLL Capital Markets represented the sellers, Florida-based Pout Rock LLC and Cold Spring Brook LLC, in the off-market sale to Rhino.
The property is fully leased to a single tenant, United Technologies subsidiary Kidde-Fenwal, a market leader in the design and manufacture of advanced fire suppression systems. The 18-acre site encompasses two buildings, which support Kidde-Fenwal’s manufacturing, warehouse and back-office operations, and features 5,000 amps of power and 10 loading docks. The tenant has operations in the U.S., the UK and India.
The Boston-based JLL Capital Markets team representing the sellers was led by managing directors Michael Restivo, Bob McGuire and Sam Crossan, along with directors David Coffman and Tommy Hovey.
The post Rhino Capital Acquires Kidde-Fenwal Facility in Off-Market Deal appeared first on Connect CRE.
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