News: Front Section
Posted: September 11, 2014
W. P. Carey Inc. buys 9 Technology Drive for $47 million from Columbia Property Trust
According to Cushman & Wakefield, 9 Technology Dr. has been sold to W. P. Carey Inc. for $47 million. The Cushman & Wakefield capital markets team, led by president Robert Griffin, vice chairman Edward Maher and executive director Matt Pullen, oversaw the transaction of the single-tenant property, which is currently 100% leased to Bose Corp., on behalf of the seller, Columbia Property Trust.
9 Technology Dr. is a two-story office building totaling 250,813 s/f originally designed by architectural firm Maini and McKee in 1992 as a built-to suit for Proteon. The property's single-tenant history also includes TJX Companies and EMC prior to Bose's occupancy commencing in 2006.
9 Technology Dr. is situated in Westborough Technology Park, a campus setting located in the northwest quadrant of the U.S. I-495/Rte. 9 interchange and an epicenter for office as well as research and development space. Each building in the park is surrounded by landscaped grounds providing a peaceful campus setting with access to two hotels: the 225-room Wyndham Hotel and the 98-room Courtyard by Marriott.
Tags:
Front Section
MORE FROM Front Section
Newmark negotiates sale of 10 Liberty Sq. and 12 Post Office Sq.
Boston, MA Newmark has completed the sale of 10 Liberty Sq. and 12 Post Office Sq. Newmark co-head of U.S. Capital Markets Robert Griffin and Boston Capital Markets executive vice chairman Edward Maher, vice chairman Matthew Pullen, executive managing director James Tribble,
Columns and Thought Leadership
Make PR pop by highlighting unique angles - by Stanley Hurwitz
Coming out of the pandemic, a client with three hotels in Provincetown, Mass., needed ways to let the world know his properties were open for business for the 2021 tourist season.
Four tips for a smooth 1031 Exchange - by Bill Lopriore
Many real estate investors do not understand the specific requirements that must be met to secure the benefits of a tax-deferred 1031 exchange. For example, the replacement property must be identified within 45 days of the closing date of the relinquished property.
Five ways to ruin a Section 1031 Like-Kind Exchange - by Bill Lopriore
While there is some flexibility when structuring a like-kind exchange, some important requirements must be met. A mistake can ruin your exchange. Here are five mistakes to avoid:
How COVID-19 has impacted office leasing - by Noble Allen and John Sokul
To say that the effects of COVID-19 has transformed office leasing is an understatement. When COVID-19 was at its peak, office spaces were practically abandoned either through governmental mandates or through actions taken by businesses themselves.
