Dedham, MA Cairn Properties, LLC acquired 55 & 59 Allied Dr. from Jumbo Capital Management. The two flex buildings, totaling 21,389 s/f, were acquired for $3.85 million. Jumbo Capital purchased the property in December 2013.
The transaction was brokered by Taryn Wilson of NKF.
“This was a great opportunity to sell one of Jumbo’s first generation assets. We were able to add value by building out additional tenant space and increasing the rentable square footage” said Sam Hill of Jumbo.
Cairn Properties principal Rob Hughes indicated that the properties were currently leased, however he intends to redevelop one or both buildings in the future.
“Given its immediate highway and commuter rail access and the density of area amenities, it is one of the most unique locations on Route 128,” Hughes said.