Piedmont Office Realty Trust pays $74m for Burlington offices

Piedmont Office Realty Trust pays $74m for Burlington offices

Published at: 2018-12-19 16:11 | Author: CIJ USA
Piedmont Office Realty Trust has paid $74m for a class A office building in Burlington, Massachusetts. The 287,776 sq ft property is currently 88 percent leased. Tenants include Lahey Hospital & Medical Center, Merrill Lynch, 89 Degrees, TTEC, MicroTek and CENTRA Technology. The six-story building features a conference center, fitness center, coffee kiosk and full-service cafeteria with an outdoor patio. Newmark Knight Frank represented the unnamed seller during the disposition. “25 Mall Road represents an institutional-quality asset featuring flexible, efficient floor plates and a ‘sticky’ rent roll,” said Matthew Pullen, executive managing director of NKF. “The property boasts a strong history of tenant retention, serving as a clear testament to the quality of the asset and its location.”

Similar Stories:

Bridge Investment acquires South Florida offices for $123m
Bridge Investment Group is set to acquire two office properties in South Florida for a com  »
Thor Equities acquires Center of Excellence for $152m
Thor Equities has paid $152m for the Center of Excellence, a 48-acre business campus in Br  »
Capstone acquires West Palm Beach offices for $19.35m
Capstone has paid $19.35m for a class A office building in West Palm Beach, Florida. The s  »
Tomoka Land buys Virginia office asset for $18.6m
Consolidated-Tomoka Land Co., based in Daytona Beach, has closed on the $18.6 million purc  »
“Steady,” “healthy,” “robust” and even “outperformed” were some of the adj   »
Orlando’s economic prospects haven’t looked so positive in ages. Not only are Florida   »
From the north to the south of Florida, occupancy rates of the largest office towers are r   »
Tampa mayor Bob Buckhorn was on hand at the groundbreaking ceremony as a show of support f   »