{"id":1004466034,"date":"2020-07-23T07:59:42","date_gmt":"2020-07-23T15:59:42","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004466034"},"modified":"2020-07-23T07:59:42","modified_gmt":"2020-07-23T15:59:42","slug":"massachusetts-data-center-sells-for-16m","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/massachusetts-data-center-sells-for-16m\/","title":{"rendered":"Massachusetts Data Center Sells for $16M"},"content":{"rendered":"
\"\"<\/a>

Image via Pixabay.com<\/i><\/p><\/div>\n

Congruity360 has finalized the sale-leaseback transaction of a 199,902-square-foot flex property and modern data center in Fall River, Mass. Rhino Capital Advisors acquired the property for $15.5 million, according to public records.<\/p>\n

Cambridge Savings Bank originated a $10.4 million acquisition loan for the purchase. The non-recourse note carries a fixed interest rate. Congruity360 entered into a new, 10-year lease agreement with the buyer.<\/p>\n

Located on 3 acres at 456 Bedford St., the property consists of a two-story building recently developed into a Tier III\/IV, raised floor data center and office space, and a three-story mill which the tenant plans to repurpose for a future expansion. Situated close to Interstate 195, the property is 18 miles from Providence and 52 miles from downtown Boston.<\/p>\n

The JLL debt placement team which assisted the borrower in securing the financing included Senior Director Brett Paulsrud and Associate Madeline Joyce.<\/p>\n

In April, Paulsrud and Associate Sam Campbell facilitated a $13.3 million acquisition loan<\/a> from Harbor One Bank for a partnership between Bain Capital Real Estate and Oliver Street Capital. The joint venture acquired a 180,000-square-foot industrial property for $19.4 million from Tighe Logistics Group.<\/p>\n","protected":false},"excerpt":{"rendered":"

The new owner financed the purchase with a $10.4 million loan from Cambridge Savings Bank.<\/p>\n","protected":false},"author":867,"featured_media":1004376710,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21755,21825,21742,10],"tags":[49855,32796],"class_list":["post-1004466034","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-data-centers","category-finance","category-latest","category-northeast","tag-cambridge-savings-bank","tag-jll"],"acf":[],"yoast_head":"\nMassachusetts Data Center Sells for $16M - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/massachusetts-data-center-sells-for-16m\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Massachusetts Data Center Sells for $16M\" \/>\n<meta property=\"og:description\" content=\"The new owner financed the purchase with a $10.4 million loan from Cambridge Savings Bank.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/massachusetts-data-center-sells-for-16m\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2020-07-23T15:59:42+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/12\/data-center-Pixabay.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"800\" \/>\n\t<meta property=\"og:image:height\" content=\"620\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Pavel Cazacu\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/massachusetts-data-center-sells-for-16m\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/massachusetts-data-center-sells-for-16m\/\",\"name\":\"Massachusetts Data Center Sells for $16M - 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