Printer Friendly

Agfa U.S.A. completes a double take in Boston.

Agfa U.S.A., a Ridgefield Park, N.J.-based chemical and imaging products manufacturer, has sold and leased back space in its two-building, 340,000 s/f regional headquarters at 200 Ballardvale Road in Wilmington, Mass., a northern suburb of Boston.

Peter Yannotta, Steven Rich, John Warburton and Sam Horowitz, of Equis Corporation's Massachusetts and New Jersey offices, arranged the sale and leaseback transaction. The buyer was Griffith Properties, of Boston.

The 22-year-old buildings, located 12 miles north of Boston, currently house a New England regional administrative office and research, development and manufacturing facilities. The sale included an adjacent 16-acre tract available for construction of one or more additional buildings.

"Agfa chose Equis to design a strategy to dramatically reduce overall occupancy costs," said Yannotta. "Our profitability analysis determined that sale/leaseback proceeds could maximize value for Agfa without having to get locked in a long rental lease term."

"Agfa's new five-year lease features flexible lease terms and square footage, while the sale provides proceeds for capital expenses needed for future business expansions."
COPYRIGHT 2005 Hagedorn Publication
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2005, Gale Group. All rights reserved. Gale Group is a Thomson Corporation Company.

 
Article Details
Printer friendly Cite/link Email Feedback
Title Annotation:Griffith Properties
Publication:Real Estate Weekly
Article Type:Brief Article
Geographic Code:4EUIT
Date:Aug 17, 2005
Words:174
Previous Article:Ladies kick off NYCREW season.
Next Article:Pharmasset moves house.
Topics:


Related Articles
Agfa Announces First US Digital Newspaper Solution at USA TODAY; Alliance to Benefit Both Newspaper Readers and the Industry.
AgfaJet Now Available From Agfa Consumer Product Resources; Telephone Sales Group Offers Complete Assortment of High-Quality Ink-Jet Media.
Agfa Monotype Secures www.fonts.com Domain Name.
DAY IN SPORTS: BARBER HOME FOR CITY JUNIOR.
Program sponsors.
Information for authors.
Agfa Monotype Releases 30 Exclusive Monotype Font Products On Fonts.com.
Forfunzine, #10.
In The Report 'Paper Industry - Global Outlook 2006' the North American Market Is Summarized With 20 Fact-Rich Tables.
Worldwide Market for Computer Assisted Surgical Systems in US$ Million including Surgical Planners and Simulators, Surgical Navigation Systems, and...

Terms of use | Privacy policy | Copyright © 2018 Farlex, Inc. | Feedback | For webmasters