News: Front Section
Posted: November 10, 2017
Pergola and Doherty of CBRE/NE handle $40.74 million sale of office park
Westborough, MA CBRE/New England completed the $40.74 million sale of Westborough Office Park, a four-building, 90%-occupied, 384,000 s/f class A office park. The institutional-quality office park is comprised of four buildings (1700, 1800, 1900, and 2000 West Park Dr.) situated on 46 acres at the intersection of I-495 and Rte. 9.
Equus Capital Partners sold the park to Carruth Capital. CBRE/NE’s Dave Pergola and Brian Doherty represented the seller and procured the buyer.
Located at the intersection of I-495 and Rte. 9, Westborough Office Park is near restaurants, shopping, hotels, banks and child care. The building includes a campus setting, service-oriented on-site management team and a range of client-friendly features and amenities. The quality, accessibility and amenities offered by Westborough Office Park makes it one of the must-tour properties for regional and national tenants seeking a headquarters-quality environment west of Boston.
Carruth Capital, LLC is a privately owned, well-capitalized commercial real estate firm with over 3 MSF of space under ownership. Carruth is one of the largest landlords in Massachusetts with over 180 tenants occupying 40 commercial buildings.
CB Richard Ellis – N.E. Partners, LP, a joint venture with CBRE Group, Inc. has offices in Massachusetts, Connecticut, Rhode Island, Maine and New Hampshire. CBRE Group, Inc., a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (based on 2016 revenue). The company has more than 75,000 employees (excluding affiliates), and serves real estate investors and occupiers through approximately 450 offices (excluding affiliates) worldwide. CBRE offers a broad range of integrated services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services.
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