RAM Cos. Adds 100% Leased Billerica Warehouse to Portfolio with $14.5M PurchaseNovember 14, 2022
BILLERICA — Howard A. Goldenfarb, Founder of The RAM Companies, confirmed the acquisition of 96 High Street in North Billerica, MA. The steel-framed, 92,000-square-foot warehouse facility sits on 18 acres in the Boston suburb. The property was originally built in 1985 with an addition added in 1992. Mark Campbell, Senior Vice President of Acquisitions & Development for RAM, led the acquisition effort. Michael Restivo and Lenny Pierce of JLL represented the seller, Iron Mountain, in the transaction.
Iron Mountain will lease the facility back from RAM for 6 years. “RAM has owned several industrial properties in the Billerica market and we love its ease of access to many major roadways. 96 High is a very functional warehouse facility with great loading and clear height, as well as potential for expansion if ever needed. Our long-term lease arrangement with Iron Mountain is one we are excited about. They are a best-in-class company and we look forward to a long, mutually successful relationship,” said Mark Campbell of RAM.
With an easily accessible location near Routes 3 & 495, the 92,000 SF facility has clear heights ranging from 28 feet to 45 feet as well as 10 loading docks and ample parking. The property will undergo improvements over the next 9 months including paint, pavement, and landscaping.
The RAM Companies has developed office, retail and residential property in New England, South Florida and Europe for more than 45 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 22 properties, including many historic buildings.Mark Campbell