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2018-12-19  16:11


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Piedmont Office Realty Trust pays $74m for Burlington offices

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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.”

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