According to Brian Gagne, executive vice president of acquisitions and development, for The RAM Companies completed the $8.5 million acquisition of 234 Ballardvale St. The acquisition is part of RAM's continued strategy of buying well tenanted, stabilized industrial property in strong New England and south and central Florida markets.
The 100,000 s/f class A property is presently 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 s/f of available space at the property.
"We believe that 234 Ballardvale is a solid addition to our portfolio of industrial space in New England," Gagne said. "This is a very functional property in a strong market with good tenancy - attributes we value greatly."
Well known throughout New England, South Florida, and Europe for its much acclaimed, retail, residential, industrial, and office developments, The RAM Companies was the original developer of factory outlets in Kittery and Freeport, Maine as well as in England and Israel. RAM's past work also includes the redevelopment of 21 buildings in Portland, Maine's Old Port area. Currently, RAM's portfolio includes primarily industrial real estate in New England and South Florida. The firm maintains offices in Scarborough, Maine and in Miami, Florida. For more information, visit www.ramcompaniesusa.com