October 22, 2009
Maine and Miami-based developer The RAM Cos. Has purchased a 100,000-square foot industrial building in Wilmington for an undisclosed sum.
The Class A property is currently occupied by Aramark Corp., Arnold Sales/Bimbo Bakeries and Advanced Imaging. Newmark Knight Frank’s Boston office has been retained to lease the remaining 25,000 square feet of space at the property RAM Cos. said in a press release.
The property was built in 1980, and last sold in November 2005 for $7.7 million, according to data from the Warren Group, publisher of Banker & Tradesman.
“We believe that 234 Ballardvale is a solid addition to our portfolio of industrial space in New England,” said Brian A. Gagne, executive vice president of acquisitions & development RAM. “This is a very functional property in a strong market with good tenancy – attributes we value greatly.”
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