Chambers Street Properties Completes Sale of 300 Constitution Drive for $20.3 Million
Chambers Street Properties (“Chambers Street” or the “Company”) (NYSE:CSG) , a real estate investment trust focused on acquiring, owning and operating net leased industrial and office properties, today announced it has sold its 300 Constitution Drive industrial property located in Taunton, Massachusetts to a subsidiary of the Boston Globe for $20.3 million. The 330,000 square foot property was originally purchased by the Company in 2004 for $19.8 million.
“We are pleased to announce the sale of 300 Constitution Drive to the Boston Globe, who intends to use the property as their primary printing and distribution facility,” said Martin A. Reid, Interim President and Chief Executive Officer, and Chief Financial Officer, Chambers Street. “With the sale of this previously vacant property, we continue to manage our portfolio’s percentage leased, which was 98.4% as of March 31, 2015.”
About Chambers Street Properties (NYSE:CSG)
Chambers Street is a real estate investment trust focused on acquiring, owning and operating net leased industrial and office properties, leased to creditworthy tenants. As of March 31, 2015, Chambers Street owned or had a majority interest in 127 properties located across 19 U.S. states, France, Germany, and the United Kingdom encompassing approximately 37.6 million rentable square feet.
For additional information, please visit www.ChambersStreet.com.
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