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Sprawling Westminster commercial building sells for $13M

BY Grant Welker

8/16/2018
Photo/Google
Photo/Google
A sprawling building at 100 Simplex Drive in Westminster has sold for $13 million. The building's tenants include Great Northern Dunnage, Seaboard Folding Box, Mayhew Basque Plastics and Tyco SimplexGrinnell.

A nearly 700,000-square-foot commercial building off Route 2 in Westminster has sold for $13 million.
The buyer is an entity whose address matches a Los Angeles real estate investment firm, Hackman Capital Partners, that says it has commercial and industrial properties in major markets across the United States.
The transaction, which was filed at the Registry of Deeds on July 9, was from 100 Simplex LLC, a company registered to Boston real estate firm GFI Partners, and transferred to NIP Owner IV LLC, which is registered to Hackman Capital's address.
The sprawling building, according to Lexington real estate agency Stubblebine Co., includes roughly 200,000 square feet leased to Great Northern Dunnage, a supplier of material for bottle and can manufacturers; 150,000 square feet leased to Seaboard Folding Box Co., a packaging maker; 132,000 square feet leased to Mayhew Basque Plastics, which injects plastic molding; and 16,000 square feet leased to Tyco SimplexGrinnell, which has a larger office building on an adjacent property at 50 Technology Drive.
Stubblebine has listed for lease 130,000 square feet of space that will become available at the end of the year.
The site was originally built between 1975 and 1980 for Digital Equipment Corp. The 75-acre property was last assessed by the town at $11.5 million.