News: Front Section
Posted: February 23, 2018
Nordblom Company sells 150 & 200 Donald Lynch Blvd. to Minardi Metrowest Properties for $12.612m
Marlborough, MA Nordblom Company has sold 150 and 200 Donald Lynch Blvd., to Minardi Metrowest Properties. 150 Donald Lynch Blvd. sold for $456,098 and 200 Donald Lynch Blvd. for $12.612 million. Both assets sold for a total disposition price of $13.068 million, which equates to $104 per s/f.
With the recent leasing efforts and capitals improvements, both buildings are over 95% leased. 150 Donald Lynch Blvd., a 9,257 s/f daycare facility, is 100% leased by Little Superstars Learning Center. 200 Donald Lynch Blvd., a 116,762 s/f class A office building, is 95% leased by Brookfield Renewable Power, ReWalk Robotics, and Western Digital.
“The success of these buildings is indicative of the vibrancy in this Marlborough submarket,” said Og Hunnewell, executive vice president of Nordblom. “We are pleased to be conveying these assets to this exceptional buyer and thrilled that they have selected Nordblom Management Company to serve as their property manager.”
These two assets are part of the 50-acre Solomon Pond Park, located at the junction of I-290/I-495. Solomon Pond Park offers on-site amenities including 2 miles of landscaped walking trails, fitness center, cafeteria with patio seating, Zagster bike sharing and collaborative outdoor space. Situated in a mixed-use environment, the portfolio is surrounded by 1.1 million s/f of retail, restaurants, and entertainment within walking distance including the Solomon Pond Mall with over 120 shops, Target, New England Sports Center, and a 112-room Marriott Residence.
Nordblom Company is a real estate enterprise with a 90-year history of investing, managing and developing properties throughout the New England region and select markets across the country. The company currently owns office, commercial and multi-family properties in the New England and Carolina markets and is committed to creating dynamic work and living environments that further the quality of life for the people who occupy its properties. Headquartered in Burlington, Massachusetts with offices in Boston, Brookline, and Raleigh, North Carolina, Nordblom Company has $1.2 billion in assets under management.
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