EFI Sells New Hampshire Building to RJ Kelly for $39.7 Million. EFI, a global leader in digital printing technology, has sold its 224,780-square-foot manufacturing and research facility in Londonderry, New Hampshire, to R.J. Kelly, a regional investment firm, for $39.7 million. The deal, which was completed in January 2024, also includes a long-term lease agreement that allows EFI to continue to use the facility as its primary manufacturing and research location and customer demonstration and training center.
The facility, which was built in 2018, is one of EFI’s most advanced and innovative sites, where it produces its inkjet printers, inks, and software. The facility also houses EFI’s research and development teams, who work on creating new solutions for the printing industry. The facility is equipped with state-of-the-art technology, such as a 3D printer, a robotics lab, and a virtual reality room.
The sale-leaseback transaction, which is a financial transaction where an owner of an asset sells it and then leases it back from the new owner, was negotiated by Newmark, a commercial real estate services firm, that represented EFI as the seller-lessee and procured R.J. Kelly as the buyer-lessor. Newmark said that the transaction was a win-win situation for both parties, as it allows EFI to raise capital and focus on its core business, while R.J. Kelly acquires a high-quality asset with a stable tenant and a long-term lease.
The facility is located near the Manchester-Boston Regional Airport and has access to major highways and markets. It is also close to several universities and colleges, such as the University of New Hampshire, Dartmouth College, and Southern New Hampshire University, which provide a pool of talent and innovation for EFI and the printing industry.