Rhino Capital Advisors Acquires 62,000 SF Industrial Property In Lowell, MA For $12.4M

The property asset involved in this transaction is located at 75 Technology Drive, Lowell, Massachusetts. It is an industrial asset with a total square footage of 62,000. The transaction was completed at a sale price of $12,400,000, which equates to a price per square foot of $200.

Summary of transaction details:

• Property Type: Industrial
• Transaction Amount: $12,400,000
• Buyer: Rhino Capital Advisors
• Seller: Jumbo Capital, Inc
• Broker: Anthony Biette - Peak Real Estate Partners
• SF: 62,000
• PPSF: $200

Anthony Biette of Peak Real Estate Partners represented Jumbo Capital Inc. in the sale and also procured Rhino Capital Advisors as the buyer. The transaction included a long-term lease agreement with the tenant Microchip, which was a significant factor in attracting the buyer. Statements from Jumbo Capital revealed their focus on restructuring the lease for Microchip prior to the sale, contributing to the asset’s appeal during the transaction.