Colony Realty Partners acquires four buildings totaling 395,000 s/f for $80.9m

A quartet of buildings in one of suburban Boston's office markets has been acquired by Colony Realty Partners for $80.9 million, as the Boston-based real estate group takes 395,000 s/f divested by another local firm, Maric Inc. The properties include such market-leading addresses as the Meadows on Rte. 9 and the Framingham Corporate Center, known to locals as 492 Old Connecticut Path, a 165,000 s/f of office space, which fetched the highest price at $37 million. The 120,000 s/f Meadows, located at 155 and 161 Worcester Rd., traded for $25 million, while Maric Inc. sold the 75,000 s/f 959 Concord St. for $13.7 million and the 35,000 s/f 125 Newbury St. for $5.2 million. The off-market transaction was orchestrated by the Boston office of Eastdil Secured. Maric paid an aggregate of $42 million in buying the building between 1995 and 2005. Eastdil Secured brokers involved in this transaction were: James McCaffrey, Peter Joseph, Christopher Phaneuf and Sara Lagosh.