Acquired for $10.75 million, the 92,000-square-foot, fully leased property is located in the Middlesex Technology Park in Billerica, Mass.
BILLERICA, Mass. (November 29, 2018) – Howard Goldenfarb, founder of The RAM Companies, announced today the $10.75 million acquisition of Building 6 at 900 Middlesex Turnpike, a Class A Flex building, in Billerica. The property is 100 percent leased to ASM Pacific Technologies (ASMPT), a Hong Kong Stock Exchange listed technology firm headquartered in Singapore.
RAM continues to add to its portfolio by acquiring and developing high quality real property throughout the United States.
“Due to its location, building quality and design, as well as the solid occupancy history of the property, Building 6 fits well into our current portfolio,” said Brian Gagne, Executive Vice President at RAM. “These factors, combined with strength of the lease with ASMPT, attracted us to acquire the property.”
The 92,000-square-foot property is located within Middlesex Technology Park, one of Billerica’s major tech parks and one that RAM has owned property in before. The property was fully renovated in 2012 for the current tenant. ASMPT, founded in 1975, is the only company in the world that offers high-quality equipment for all major steps in the electronics manufacturing process - from carrier for chip interconnection to chip assembly and packaging to SMT. No other supplier offers a comparable range and depth of process expertise.
The latest RAM acquisition is located off the Middlesex Turnpike, which is undergoing significant road improvements to support local growth, and is just minutes from the Route 3 corridor and the mixed-use environment of neighboring Burlington, Gagne said. Also, the area hosts a vibrant R&D market including such firms as Oracle, iRobot, ThermoFisher Scientific, Axsun, and others.
The RAM Companies has pioneered office, retail and residential property development in New England, South Florida and Europe for more than 40 years. Founder Howard A. Goldenfarb is credited with igniting the redevelopment of Portland, Maine’s Old Port district in the 1970s with the purchase and redevelopment of more than 20 properties, including many historic buildings.
Led by Goldenfarb, RAM also has developed a number of other building projects noted as “firsts” in Maine and elsewhere. Those projects include The Maine Outlet in Kittery, the first multi-tenant, purpose-built outlet mall in New England; Citicorp Park in South Portland, Maine’s first suburban office park; Foreside Common in Falmouth, the region’s first luxury oceanfront condominium project; and RiverPlace in South Portland, the first waterfront luxury apartment complex in southern Maine. RAM also was a pioneer in European (England and Belgium) and the Middle East (Israel) outlet mall development.
RAM has focused for the last several years on the acquisition of income-producing industrial properties in New England, as well as the redevelopment of luxury single family homes through its affiliate, Mile Marker Investments, based in Miami.
The RAM Companies is based in Scarborough, Maine and Miami. For more information, visit www.ramcompaniesusa.com.