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Woburn Industrial Building Fetches $16M

Jul 18, 2011 | Reprints | Unlock Link | Print

275 Wildwood Ave., Woburn Fairlane Properties Inc. has purchased a 172,000-square-foot industrial and office building in Woburn.

The building at 275 Wildwood Ave. sits on 17 acres and is leased on a long-term basis to Anixter International and Verizon New England, according to a statement.

Michael Grill, president of Fairlane Properties Inc., will lead the newly-formed Fairlane Wildwood LLC. Brookline Bank provided financing of $11.1 million for the purchase. Fairlane Properties Inc. raised $5.35 million in a private equity placement with numerous local investors.

Gary Lemire and Matt Pullen of CB Richard Ellis represented the seller, Colony Realty Partners, in the transaction. Ken Oppenheim of Lincoln Property Co. will serve as property manager for the asset.

Commercial & Industrial