Boston firm buys Kraft-owned Lancaster warehouse for $48M
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580 Fort Pond Road, Lancaster
Boston real estate investment firm The Seyon Group purchased a 275,620 square-foot warehouse in Lancaster for $48 million from Foxborough-based The Kraft Group, owner of packaging company Rand-Whitney, and the New England Patriots.
UN1F1ED² Global Packaging Group, will continue operating as a tenant at the site, according to a Dec. 1 press release by Seyon.
“580 Fort Pond represents Seyon’s latest acquisition of a Class A warehouse in greater Boston and allows us to meaningfully expand the existing footprint of the current building. We are thrilled to add UN1F1ED² Global Packaging Group to our growing roster of best-in-class tenants and we look forward to expanding our relationship with the Rand-Whitney team,” said Andrew Iglowski, managing partner at Seyon in the press release.
UN1F1ED² is a partnership between Worcester’s Rand-Whitney and Sutton’s AGlobal Solutions. Boylston contractor RP Masiello Inc. is currently building a 1-million square-foot facility for the company in Sutton.
In 2022,The Kraft Group acquired industrial properties in Northbridge, and Webster, and began construction on a 373,500 square foot manufacturing facility in Boylston.
The Lancaster property was sold in 2014 by the Horn Packaging Corp. for $7.25 million. In 2010, it was sold by the Rockport Company, then a subsidiary of Adidas through its acquisition of Reebok, for $7.35 million.
The property is assessed at almost $10 million by the Town of Lancaster.
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