{"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":"<div id=\"attachment_1004376710\" style=\"width: 310px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/12\/data-center-Pixabay.jpg\" target=\"_blank\" rel=\"noopener\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004376710\" data-attachment-id=\"1004376710\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/blackstone-jv-closes-data-centers-acquisition-in-virginia\/data-center-pixabay\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/12\/data-center-Pixabay.jpg\" data-orig-size=\"800,620\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;1&quot;}\" data-image-title=\"data center Pixabay\" data-image-description=\"\" data-image-caption=\"&lt;p&gt;&lt;i&gt;Image via Pixabay.com&lt;\/i&gt;&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/12\/data-center-Pixabay.jpg?w=800\" class=\"wp-image-1004376710 size-medium\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/12\/data-center-Pixabay.jpg\" alt=\"\" width=\"300\" height=\"233\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/12\/data-center-Pixabay.jpg 800w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/12\/data-center-Pixabay.jpg?resize=300,233 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/12\/data-center-Pixabay.jpg?resize=768,595 768w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><p id=\"caption-attachment-1004376710\" class=\"wp-caption-text\"><i>Image via Pixabay.com<\/i><\/p><\/div>\n<p>Congruity360 has finalized the sale-leaseback transaction of a 199,902-square-foot flex property and modern data center in Fall River, Mass.&nbsp;Rhino Capital Advisors acquired the property for $15.5 million, according to public records.<\/p>\n<p>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<p>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<p>The JLL debt placement team which assisted the borrower in securing the financing included Senior Director Brett Paulsrud and Associate Madeline Joyce.<\/p>\n<p>In April, Paulsrud and Associate Sam Campbell <a href=\"https:\/\/www.commercialsearch.com\/news\/bain-capital-jv-buys-boston-industrial-facility-for-19m\/\">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":"<p>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":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Massachusetts 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\":\"Article\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/massachusetts-data-center-sells-for-16m\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/massachusetts-data-center-sells-for-16m\\\/\"},\"author\":{\"name\":\"Pavel Cazacu\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/caac04e9f88552f7c898ba456c2498d8\"},\"headline\":\"Massachusetts Data Center Sells for $16M\",\"datePublished\":\"2020-07-23T15:59:42+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/massachusetts-data-center-sells-for-16m\\\/\"},\"wordCount\":199,\"image\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/massachusetts-data-center-sells-for-16m\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2019\\\/12\\\/data-center-Pixabay.jpg\",\"keywords\":[\"Cambridge Savings Bank\",\"JLL\"],\"articleSection\":[\"Data Centers\",\"Finance\",\"News\",\"Northeast\"],\"inLanguage\":\"en-US\"},{\"@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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