Orion Castings - Xiphias Cambridge
Specialized aerospace and defense manufacturing facility in North Billerica, Massachusetts, offered as a sale-leaseback with an 8.50% cap rate on a 20+ year absolute triple-net lease. Xiphias Cambridge, the tenant, is an established die casting and machining platform with 70+ years of operational history, 163 employees, and long-tenured customer relationships across aerospace, defense, medical, and industrial end markets. The lease begins at $1,226,511 annually ($4.50 per SF) with 3% annual escalations and zero landlord responsibilities.
The 272,558 SF facility sits on 11.9 acres in North Billerica, approximately 30 minutes from downtown Boston, within the Greater Boston industrial market valued at $76.8 billion. The property was constructed between 1880 and 1930 and includes 50 parking spaces. Xiphias Cambridge operates vertically integrated capabilities spanning aluminum and zinc die casting, CNC machining, assembly, painting, finishing, and quality validation. The tenant holds AS9100D, ISO 9001:2015, NADCAP Chemical Processing, and ITAR certifications, positioning the facility to serve highly regulated aerospace and defense programs. The business maintains sole-source and approved-vendor relationships with customers spanning 20 to 30+ years, creating high switching costs and program continuity.
The Greater Boston region offers deep manufacturing labor pools, proximity to MIT, Harvard, and world-class research institutions, and strategic access to Logan International Airport and the Port of Boston. Within a 15-mile radius, the trade area encompasses 1.16 million residents with an average household income of $162,680. The asking rent of $4.50 per SF is significantly below the Greater Boston market average of over $17 per SF. The lease includes four 5-year renewal options and is backed by MiddleGround Capital, an operationally focused private equity sponsor with deep manufacturing expertise.
- 20+ year absolute triple-net lease with zero landlord responsibilities for taxes, insurance, maintenance, roof, and structure
- 3% annual rent escalations with four 5-year renewal options providing long-term income stability
- Tenant with 70+ years operational history, 163 employees, and 218 active SKUs serving mission-critical aerospace and defense programs
- AS9100D, ISO 9001:2015, NADCAP, and ITAR certifications supporting highly regulated end markets
- Rent significantly below market: $4.50 PSF versus Greater Boston average of $17+ PSF
- Strategic location near Boston innovation corridor with access to skilled manufacturing workforce and major transportation hubs
More property details
Features & amenities
Location
Located in North Billerica within the Greater Boston industrial market, approximately 30 minutes from downtown Boston. The facility benefits from access to the region's deep labor pool, advanced manufacturing ecosystem, research institutions, and East Coast customer base. Proximate to Logan International Airport and the Port of Boston.
- Greater Boston metro area; proximity to MIT, Harvard, and research institutions;
- strategic East Coast location; access to skilled manufacturing workforce
Additional details
Specialized, vertically integrated die casting, machining, painting, finishing, and assembly platform serving complex, high-mix/low-volume applications across aerospace & defense, medical, automation & robotics, flow control, energy & power, and other industrial end markets
- North Billerica primary manufacturing facility (subject property)
- Chelmsford painting/finishing facility
- Select supporting operations
Zero - Tenant responsible for all taxes, insurance, maintenance, roof, structure, and operating expenses under absolute triple-net lease
Marketing brochure for illustrative purposes only. Broker makes no representations, guarantees, or warranties regarding accuracy, completeness, property condition, financial performance, tenant financial condition, or future tenant occupancy. Buyer responsible for independent due diligence investigation.
Leading innovation hub with biotechnology, pharmaceuticals, robotics, software development, and advanced manufacturing. Home to Harvard, MIT, and world-class hospitals. Strategic East Coast location with access to Logan International Airport and Port of Boston.