Campanelli has sold 60 Research Rd., located in South Shore Park, in an off-market transaction to A.W. Perry for $3.66 million.
The 58,655 s/f, two-story office and industrial building is located on 6.77 acres, six miles south of Rte. 128 and I-93. The building was originally purchased by Campanelli from Sager Electronics in 2002. Campanelli then renovated and fully-leased the space in a 10 year deal to ADP (currently Broadridge) whose lease expired in June of this year. This office/flex facility is 100% air conditioned and features a second floor executive office area, an industrial warehouse with two standard dock height loading docks, a van height receiving door and extensive parking.
"We see 60 Research Rd. as an excellent opportunity to expand A.W. Perry's south shore holdings and we expect this quality property to attract new businesses to South Shore Park," said June Cunniff, vice president of A.W. Perry, and property manager for South Shore Park.
A.W. Perry was represented by Rich Beal, president of Perry Brokerage Associates, in the transaction.
A.W. Perry and Campanelli have previously worked together as developer and construction manager, respectively, on 2 Pond Park.
The surgery, pain clinic, imaging diagnostic center and medical office opened in September of 2011. A.W. Perry currently owns and manages numerous properties in South Shore Park and the surrounding area. This acquisition adds to the contiguous holdings in its portfolio.
"Once again it was a pleasure working with A.W. Perry. 60 Research Road was a great fit for their portfolio and both sides worked together to create a mutually beneficial transaction" said Rob DeMarco, partner at Campanelli.