Burlington, MA JLL has secured $28.077 million in financing for 10 and 20 Mall Rd., two suburban office buildings totaling 154,378 s/f. JLL worked on behalf of the borrower, R.J. Kelly Co., Inc, to secure 10-year, fixed-rate financing with Peoples United Bank.
10 and 20 Mall Rd. are situated at the intersection of Rte. 128/I-95 and Rte. 3, which is located 12 miles north of Boston. Considered one of the strongest suburban office markets in the country, the city is home to major corporate tenants such as Oracle, Keurig and Raytheon, and is one of the most sought after live/work/play neighborhood’s for Boston’s highly educated workforce. 10 Mall Rd. contains 58,160 s/f and is leased to four tenants while 20 Mall Rd. is leased to 20 tenants and consists of 96,218 s/f. Amenities at the buildings include fitness centers, locker rooms, showers, on-site restaurant and conference facilities and parking.
The JLL Capital Markets team representing the borrower was led by senior managing director Lauren O’Neil, and senior director Brett Paulsrud.
“JLL was able to work closely with the R.J. Kelly team to secure a loan that met their long-term objectives for the assets,” said Paulsrud. “It is great to see R.J. Kelly’s long-term commitment to Burlington and is always a pleasure working with such a best-in-class organization.”