Grossman Cos. affiliate buys Mansfield industrial building for $7.05m

60 Maple St. Photo provided by Grossman Cos.
60 Maple St. Photo provided by Grossman Cos.

Affiliates of the Grossman Cos. Inc. have purchased a Mansfield industrial building from Calare Properties Inc. for $7.05 million, Grossman Cos. said.

Set on 15 acres of land near the near the intersection of I-95 and I-495, the building at 60 Maple St. has 225,000 square feet of space, and it is 70 percent leased, said Grossman, a Quincy-based commercial real estate brokerage, development, and management firm. The seller, Calare Properties, is an industrial property specialist based in Hudson.

In a statement, Jake Grossman, who oversaw the acquisition for the family-owned business, said that the property, adjacent to the Cabot Industrial Park, “is well located, functional, and offers convenient rail access.”

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The building’s tenants include DGS Retail, manufacturer of signage for many national retailers; Ameristar Fence Products, regional distribution center for one of the largest ornamental fence manufacturers in the world; and GF / Guardian Fall Protection, a major scaffolding supplier based in Washington state. Nearly 68,000 square feet of space is still available for lease. The building offers ample loading docks, outdoor storage space, and 21-foot clear ceilings.

Representing the buyer and seller in the transaction was Robert Gibson, executive vice president/partner of CBRE / New England, who has been hired by Grossman to serve as exclusive leasing agent. Brookline Savings Bank provided a $3 million acquisition loan for the buyer.