STAG Capital Partners recently purchased a 109,943-square-foot manufacturing and office facility in Malden, Mass., as part of a 20-year sale-leaseback transaction with Palmer Manufacturing Co.
The value of the transaction was not disclosed.
The property, located at 219 and 243 Medford St., consists of two manufacturing and office buildings with shared ingress/egress and parking areas with a total land area of 5 acres on two separate parcels.
Both buildings were fully leased to Palmer Manufacturing at the time of sale. Palmer manufactures and assembles parts for jet engines for the aerospace industry and other specialty-engine users. Radius Partners LLC, in partnership with American Capital, completed a buyout of Palmer, a family owned business, at the time of the sale-leaseback.
