LPC Orchestrates Industrial Building Swap in Woburn, MA

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25 Jan 2016

LPC is pleased to announce that the North Suburban Team of Rob Cronin and Ken Oppenheim has facilitated a swap by ownership’s of industrial building totaling 50,000 SF valuing $4.25 MM.

LPC represented Woburn manufacturer, Yeuell Nameplate, in an extensive market search for a larger facility. After considering several other options over the course of 18 months, LPC and Yeuell identified 17 Gill Street as a strong option: an investor-owned 40,000 SF industrial building with a 20,000 SF vacancy. LPC proposed a sale structure that included Yeuell buying 17 Gill for $3,250,000 from the investor and selling their current facility of 10,000 SF facility around the corner at 8 Adele Road, Woburn to 17 Gill owner, Two L LLC, for $950,000 or $95 pSF.

During this process, LPC headed negotiations for both building sales and negotiated lease renewals with the existing tenant at 17 Gill, spice distributor, Victoria’s Gourmet. Reimer and Braunstien’s Burlington office provided legal representation and Northmark Bank provided financing for the 17 Gill acquisition.

Rob Cronin Tenant Representation