STAG Capital Partners recently purchased 198,984 square feet of industrial and office space in Southbridge, Mass.
The value of the transaction was approximately $8 million.
The subject property consists of a 183,124-square-foot manufacturing facility located at 35 Optical Drive and a 15,860-square-foot office/computer center located at 70 Optical Drive in the Southbridge Business Center. The buildings were fully leased at the time of sale to Aearo Co., which specializes in personal protection equipment.
Southbridge Associates II LLC sold the property.
This is the third Massachusetts asset in STAG’s Fund II portfolio, which currently consists of 47 buildings totaling 9.8 million square feet across 20 states. STAG Capital Partners actively acquires single-tenant, net leased properties, which include warehouse, flex, manufacturing and office buildings.