As exclusive advisor to the RJ Kelly Company, Cushman & Wakefield's equity, debt & structured finance group has arranged acquisition financing for the $30 million acquisition of 10 & 20 Mall Rd., a class A office property. The acquisition financing was provided by Cambridge Savings Bank.
10 & 20 Mall Rd. is a premier two-building, office complex totaling 154,111 s/f located directly off the key interchange between Rte. 128 and Rte. 3. Well leased to a diversified roster of high quality tenants, the three-and four-story buildings present a combination of excellent location in the area's growing "live-work-play" marketplace and proximity to a robust selection of retail amenities.
The acquisition financing was arranged by managing director Jay Wagner of Cushman & Wakefield's equity, debt & structured finance practice, who worked in concert with the Cushman & Wakefield investment sales team that brokered the sale of the property.
"We received a high level of interest in the financing from a variety of lenders who were attracted to RJ Kelly's prime sponsorship and the property's strong positioning within the burgeoning Burlington market" said Wagner. "2013 was the year of Burlington as the focus for tenants and investors alike who are seeking a Live-Work-Play destination in a suburban setting."
"We viewed RJ Kelly as the ideal owner of 10 & 20 Mall Rd. given their long standing commitment to the Burlington market and their deep experience with similar assets along Mall Road" said senior vice president Michael Lindgren of Cambridge Savings.