Cabot Business Park Buildings Sold for $450 Million

How much for those buildings in the business park? Try nearly a half-billion dollars.

14 industrial and distribution buildings in the Cabot Business Park were sold this month for a combined price of $450 million.

The Sun Chronicle reports that Long Gate LLC and AMB SGP Seattle Boston, both subsidiaries of global industrial real estate investment trust Prologis, sold the buildings on Dec. 3 to New Jersey-based SSI PR 2 Owner, LLC.

Nine of the buildings were sold for just over $39 million each with five more going for between $3 and $18 million.

Town Manager William Ross said that the sales were expected as Prologis was trying to market it’s real estate assets in the northeast.

Currently, the business park has an occupancy rate near 100 percent.