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Maine Developer Adds to North Shore Portfolio

Photo courtesy of The RAM Companies

Scarborough, Maine-based RAM Companies acquired a Newburyport manufacturing facility to add to its portfolio of income-producing industrial and flex properties.

The 46,000-square-foot facility on a 4.4-acre property at 111 Parker St. is leased to Swedish machinery manufacturer Alpha Laval. The purchase price was $8.05 million, according to an Essex County deed.

JLL’s David Coffman and Michael Restivo represented the seller, 111 Parker Street LLC, an affiliate of Boston-based Rhino Capital.

Founded by Howard Goldenfarb in the early 1970s, The RAM Companies specializes in acquisition and redevelopment of income-producing industrial and flex properties in New England and South Florida.

The RAM Companies’ Massachusetts portfolio includes 40 Industrial Way in Canton, 445 Simarano Drive and Bartlett Street Commerce Center in Marlborough, Leominster Commerce Center and North Andover Commerce Center.

Commercial & Industrial