DEVENS — The Saratoga Boulevard building housing New England Sheets, LLC, has changed hands for $10.35 million.
Boston-based Cabot Properties Inc., which also owns properties in Billerica, Tewksbury and Wilmington, bought the 162,000-square-foot industrial building at 36 Saratoga Blvd. from J.G. Petrucci Company Inc. of Asbury, N.J., the property’s original developer.
New England Sheets, a co-operative business managed by Schwarz Partners, began leasing the entire building in 2010. The company makes corrugated sheets for packaging companies.
The CBRE/New England Capital Markets and Industrial teams coordinated the sale.
“CBRE/New England was excited to be able to work in partnership with the Petrucci Co. in initially securing New England Sheets for the project and subsequently assisting them in procuring a quality, institutional owner, Cabot Properties, as the next owner of this notable Devens asset,” said CBRE/New England partner Bob Gibson, in a statement.
Formed in 1986, Cabot Properties is a private-equity real-estate investment company. It invests in, develops and operates industrial properties throughout North America and the United Kingdom.
