News: Front Section

RJ Kelly Co. purchases 168,000 s/f 100 Quannapowitt Parkway for $31.1m

100 Quannapowitt Parkway - Wakefield, Mass. Class A office building. 100 Quannapowitt Parkway - Wakefield, MA

Wakefield, MA On behalf of Digital Realty Trust, JLL’s Capital Markets experts negotiated the $31.1 million sale of 100 Quannapowitt Parkway, a Class A office building. RJ Kelley Company purchased the 168,000 s/f asset. The sale generated net proceeds of $29 million, and Digital Realty recognized a gain on the sale of approximately $10 million in the first quarter of 2015.

 Managing directors Frank Petz and Jessica Hughes, and vice president Robert Borden led the JLL team on the transaction along with analyst Charles Luce.

 According to Petz, “This offering gave investors the unique opportunity to purchase a strategically located asset in the strong North market with 100% occupancy, stable contractual cash flows, and below market rents in-place providing upside potential.”

 Located 13 miles north of Boston, 100 Quannapowitt Parkway is one-half mile from Rte. 128, two miles from the I-93 interchange, and adjacent to Lake Quannapowitt.

The building is part of 100 & 200 Quannapowitt Parkway, a 387,000 s/f Class A office and technology center that combines modern, efficient office and flex space. The two buildings offer views of the lake, jogging trails, a cafeteria, fitness center, locker rooms, and a basketball court for employees.

MORE FROM Front Section
Front Section

McEvoy of The Conrad Group brokers $2.9 million sale of industrial building

Hingham, MA The Conrad Group  has brokered the sale of 55 Research Rd., South Shore Park. The property consists of a 20,340 s/f single story manufacturing building on two acres of land.
READ ON THE GO
DIGITAL EDITIONS
Subscribe
Columns and Thought Leadership
The doctor is in: How medical leases differ from retail and office spaces - by Brian Cafferty

The doctor is in: How medical leases differ from retail and office spaces - by Brian Cafferty

As healthcare facilities, often referred to as “Doc in a Box” clinics, increasingly move into traditional retail spaces, landlords are more frequently leasing to medical tenants. Unlike standard retail or office leases, medical facilities come with a unique set of considerations that must be carefully addressed to ensure a successful tenancy.
5 Questions to ask when  choosing a real estate broker - by Elizabeth Perez Barlett

5 Questions to ask when choosing a real estate broker - by Elizabeth Perez Barlett

>They say, “April showers bring May flowers,” but this season may bring more movement in the housing market as springtime is one of the most popular times for home buying and selling. Although spring is one of the strongest seasons for the residential market, it may not be all rosebuds and butterflies if you don’t have the right advisors.
Investing in a falling rate environment - by Harrison Klein

Investing in a falling rate environment - by Harrison Klein

Long-term interest rates have fallen by 100 basis points, and the market is normalizing. In December of 2022 I wrote an article about investing in a high interest rate, high inflation market. Since then, inflation has cooled off, and the Fed has begun lowering their funds rate.
It’s time to get creative with closed college campuses - by Christian Koulichkov

It’s time to get creative with closed college campuses - by Christian Koulichkov

Facing higher costs, shrinking enrollments, reduced state funding and severe demographic headwinds, many colleges and universities in New England and the Northeast are fighting for survival. The latest to lose the battle is the 150 + year old University of the Arts in