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Lincoln Property Adds to Industrial Portfolio with Middleborough Acquisition

Jun 14, 2022 | Reprints | Unlock Link | Print

Image courtesy of JLL

A Plymouth County manufacturing company leased back its Middleborough property after Lincoln Property Co. acquired the 30,050-square-foot facility for $4.15 million.

The 41 Leona Drive property is fully occupied by Butler Automatic, which makes equipment used in packaging processes for food and other consumer goods.

JLL’s capital markets investment sales team represented Butler Automatic in the sale and arranged a 3-year, fixed-rate loan with Centreville Bank for $2.8 million.

The single-story building in Campanelli Industrial Park was originally completed in 1998 and includes 23-foot clear heights and 37-foot column spacing.

Vacancies in the Route 495 south industrial market dropped to 2 percent at the end of the first quarter, according to JLL research.

B&T Daily