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Framingham Developer Acquires Devens Property

By Steve Adams | Banker & Tradesman Staff | May 5, 2017 | Reprints | Unlock Link

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Fresh off of its acquisition of New England Confectionary Co.’s 50-acre Revere headquarters, Framingham-based Atlantic Management Corp. has made another industrial buy.

Atlantic Management acquired the 236,505-square-foot 50 Independence Drive in Devens Commerce Center. The purchase price was $15.25 million, according to the Middlesex County Registry of Deeds.

The multitenant building is 100 percent occupied. The sellers were Hackman Capital Partners LLC, Calare Properties Inc. and KBS Real Estate Investment Trust, which acquired the property in 2007 as part of an 11.4-million-square-foot industrial portfolio.

Brian Fiumara and Brad Ruppel of CBRE National Partners represented the seller.

Atlantic Management owns and manages 6 million square feet of commercial real estate in New England.

B&T Daily