Houston firm pays $3.4M for Northborough industrial building
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30 Bearfoot Road in Northborough
A Houston-based real estate development and management company has paid nearly $3.4 million for a 59,000-square-foot industrial building in Northborough.
The site, 30 Bearfoot Road, changed hands from one major out-of-state developer to another.
The buyer is McCord, a Houston firm whose portfolio includes mixed-use developments in the Houston area. The company also has a Boston office.
The seller is Alexandria Real Estate Equities, which is based in Pasadena, Calif., but is a major land-owner and developer in Cambridge, among other areas. Alexandria's website says it has 7.8 million square feet of space in the Boston area. It also owns life sciences clusters in the New York City area, San Francisco Bay area and elsewhere.
The 7.4-acre site once hosted ID Biomedical Corp., which became part of the drugmaker giant GlaxoSmithKline in 2005. Town records show ID Biomedical sold the site that year to Alexandria for $23.5 million.
The site was last assessed by the Town of Northborough at $6.4 million.
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