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
Program sponsors.
Information for authors.
Forfunzine, #10.

Terms of use | Privacy policy | Copyright © 2020 Farlex, Inc. | Feedback | For webmasters