News: Front Section
Posted: May 3, 2019
CBRE completed sale of 131 Hartwell Ave. to Azad Legacy Partners
Lexington, MA On behalf of Griffith Properties, CBRE completed the sale of 131 Hartwell Ave. to Azad Legacy Partners. Azad plans to occupy a portion of the 78,717 s/f office building for its own use and lease the remaining space. The sale price was not disclosed.
CBRE’s Roy Sandeman, Chris Skeffington and Jason Levendusky were among the brokers that exclusively represented the seller in this transaction.
This investment complements Azad’s growing portfolio of properties in the area. “We appreciate the seller and CBRE selecting Azad Legacy Partners as the buyer,” said Charlie Minasian, principal at Azad. “We look forward to many other acquisitions in the area as we grow our company’s holdings.”
“Griffith Properties was a pleasure to work with, and we are delighted to have represented them,” said Sandeman. “Azad Legacy Partners executed flawlessly on a first class asset that represents a terrific value-add opportunity in an excellent suburban location.”
131 Hartwell Ave. is a first class, three-story office building located on 5 acres of land in the heart of the Rte. 128 Technology corridor. Significantly renovated by Griffith Properties in 2014, the property is over 80% leased to six tenants.
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