News: Front Section
Posted: September 23, 2022
Blackey of R.W. Holmes assists B&L Associates in $3.99 million sale
Natick, MA R.W. Holmes negotiated the sale of a boutique flex/office building. Located at 13 Tech Circle, the 11,100 s/f single-story office/flex building was acquired by Busek, Inc. and sold by B&L Associates Inc. R.W. Holmes managing director Dean Blackey represented the seller and procured the buyer.
The standalone building in East Natick Business Park was sold for $3.99 million, or $360 per s/f. The building was completely rehabbed in 2008 and 2021, respectively, and converted to class A R&D space.
“It is no secret that single-story product like 13 Tech continues to command top dollar. However, to find a building that is this well sorted from a capital expense standpoint is even rarer.” Blackey said. “$360 per s/f represents one of the highest sales per s/f for this type of product in the Natick and Framingham market.”
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