Burlington, MA Bob Horvath and Todd Tremblay, vice presidents of investments at Marcus & Millichap Real Estate Investment Services, have brokered the transaction of Digital Federal Credit Union (DCU) and AT&T locations.
DCU closed at a sale price of $3.175 million, a 5.39% cap rate. Horvath and Tremblay exclusively represented both the seller, Network Drive Lot 10, LLC and the buyer, Pilgrim Capital Trust. Built in 2013, DCU signed the original 15-year triple net lease, which includes (3) five year options. Located along the Middlesex Tpke., this bank branch is located across the street from Network Dr., a modern and efficient corporate campus with businesses that include: Oracle, Avid, Exa Corporation, Dyax, eBay Enterprise, Veracode, NetBrain and FIS. Network Dr. is at the center of the business community surrounded by amenities with easy access right off I-95/128 and Rte. 3. Located within one mile of the property is 3rd Ave, a boulevard lined with restaurants and anchored by a 140,000 s/f Wegmans Supermarket with a 14,000 s/f interior “Market Café.” 3rd Ave is the up and coming social and entertainment heart of Burlington and Rte. 128’s best retail destination.
Digital Federal Credit Union - Burlington, MAThe AT&T location sold for $1,768,245. Horvath and Tremblay exclusively represented both the buyer, 12 Blanchard Road, LLC and the seller, Twelve Blanchard Road Nominee Real Estate Trust. Located along the Rte. 128 corridor, AT&T has occupied this site since 2004 and recently renewed the triple net lease for an additional 10-years extending the lease term through October 31, 2024. The lease also includes (2) three year options. Annual rental escalations of 4% are scheduled throughout the base term of the lease and at the beginning of each option period. This property serves as a switching hub for AT&T’s network.
AT&T switching hub - Burlington, MAWith over 1,300 investment professionals located throughout the United States and Canada, Marcus & Millichap is a leading specialist in commercial real estate investment sales, financing, research and advisory services. Founded in 1971, the firm closed over 6,600 transactions in 2013 with a value of $24 billion. The company has perfected a powerful system for marketing properties that combines investment specialization, local market expertise, the industry’s most comprehensive research, state-of-the-art technology, and relationships with the largest pool of qualified investors.
.png)