Paradigm Capital Advisors and The Ashforth Co.'s co-sponsored fund, APCA Property Fund I, has purchased a 216,663 s/f industrial park, for $17 million.
Steve Allison, managing director and chief investment officer of Paradigm Capital Advisors, represented APCA Property Fund I in the purchase of the Neponset Valley Tech Park. The park's owners, Jim O'Neil and Ralph Darling (both formerly of The Flatley Co.), were represented by Gary Lemire, Patrick Cavanaugh, and Bill Moylan of CB Richard Ellis.
The park is situated on 17 acres, located at 480 Neponset St. and includes 15 separate single-story buildings. All of the buildings have been updated within the past seven years, including roofing and HVAC systems.
"Neponset Valley Tech Park is located immediately off of I-95, at the first exit South of Route 128—an easily accessible and superb location," said Allison.
The Park has maintained high occupancy rate over the years, boasting a tenant roster that includes local businesses.
Many tenants are attracted to the building for its diverse spaces, which include: permanent and flex office space; lab space; warehouse space; showroom areas; restaurant space; and light manufacturing areas.