News: Front Section
Posted: January 20, 2023
Kelleher & Sadowsky represents seller in $19.9 million sale of Westboro Executive Park
Westborough, MA Westboro Executive Park, a three-building class A office park totaling 217,288 s/f, located at 110, 112, and 114 Turnpike Rd. (Rte. 9) has sold for $19.9 million to Turnpike Road Holdings, LLC. Albany Road Real Estate Partners were the sellers. They had owned the park since 2014.
Kelleher & Sadowsky was hired by the owner in June 2022 to lease and then market the park for sale. After conducting a national marketing campaign, Kelleher & Sadowsky, along with Albany Road Real Estate Partners and bankHometown, identified a well-established investment firm to acquire this prominent real estate asset - the property closed on December 27, 2022.
The brokers from Kelleher & Sadowsky involved in the leasing and sales effort included William Kelleher, IV, principal; Phil DeSimone, executive vice president; Meghan Liddy, senior vice president; Andrew Sherman, vice president; and Ross Miner, associate.
DeSimone said, “Westboro Executive Park is a well-established suburban office park, providing an accessible solution for those companies that believe hybrid work is here to stay. As commutes east into Boston continue to worsen, suburban office locations will continue to become more desirable. Westboro Executive Park can accommodate tenants of various sizes, while allowing an ease of access that will be desirable to employees, while at the same time a cost-effective measure for employers. The new owner will continue to enhance the tenant experience, make necessary renovations and modernize the existing amenities that include: a café, tenant lounge, fitness center and conference facility.”
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