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Wed, Jun 26
A Compendium of Property & Capital News
Wed
Jun 26
A Compendium of Property & Capital News

Stubblebine Company Completes Two Warehouse Leases Totaling 134,000 SF

May 20, 2019
355 Main Street, Whitinsville MA

BILLERICA–David and James Stubblebine, Principals of The Stubblebine Company, along with Ellen Garthoff, Senior Advisor, completed the warehouse leasing assignment of 56,000 sf to Compass Packaging at 159 Rangeway Road. The Stubblebine Company represented both the Landlord, Lynnway Rangeway LLC, and the Tenant, Compass Packaging Solutions, in the transaction.

Rangeway Road is an 87,200 sf, 22’-clear warehouse building built in the late 1980’s by Howland Development, is a first-class Warehouse Distribution building. The Stubblebine Company sold the subject building in late 2016 to Lynnway Rangeway LLC for $7,300,000.

Compass Packaging Solution is a single-source solution packaging company. With over 40,000 square feet in their Massachusetts facilities, the company provides warehousing, distribution, fulfillment and complete kitting services; they handle the packaging and tracking of all their complex components.

In a separate transaction, The Stubblebine Company leased 78,000 sf to Core-Mark at 355 Main Street, in Whitinsville, MA. Core-Mark has been ensconced with the property for a number of years; the 78,000 sf lease represented an expansion. The former home of Potpourri, the 355,000 sf building is located on 26 acres and has an ESFR sprinkler system and T-5 lighting. Worcester Regional Transportation Authority runs in front of the building.

Core-Mark has grown into one of the largest distributors and marketers of consumer goods in North America. They are North America’s leading distributors for fresh food and consumer packaged goods for the retail industry. Established over 125 years ago, Core-Mark is a Fortune 400 company that continues to grow, with approximately $14 billion in sales and 30 divisions across the United States and Canada.

James Stubblebine Ellen Garthoff David Stubblebine