Auburn, MA - Holliday Fenoglio Fowler, LP closed on the sale of two distribution buildings totaling 667,000 square feet to Rabina Properties for $38.5 million.
The buildings at 26 and 28 Millbury St. in Auburn, Mass., were sold by Liberty Companies of Boston. The sale to New York's Rabina Properties was arranged by the Boston office of Holliday Fenoglio Fowler and included a forward commitment to accommodate the construction schedule of 26 Millbury Street.
The buildings are close to the Massachusetts Turnpike and Interstate 290 interchange in Auburn. The building at 26 Millbury is a 210,000 square foot, build-to-suit distribution facility for Interline Brands that was completed in May 2008. The building at 28 Millbury is a 457,000 square foot distribution center that serves as the main distribution hub for Filene's Basement.
Liberty Companies acquires, redevelops and markets commercial property, and has a portfolio of more than 5 million square feet of industrial and office properties located primarily in New England. Rabina Properties is a privately held owner, developer and manager of more than 12 million square feet of retail, residential, office and technology real estate, and an active purchaser of distressed debt.
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