News:
Owners Developers & Managers
Posted: October 13, 2017
KS Partners acquires Marlborough Technology Park from Normandy Real Estate Partners for $46 million
Marlborough, MA KS Partners has acquired Marlborough Technology Park from Normandy Real Estate Partners for $46 million. Cushman & Wakefield negotiated the sale.
The 584,648 s/f park consists of seven buildings on a 57 acre campus along Nickerson Rd. The previous owner completed a $9.8 million capital improvement campaign that modernized each of the building’s common areas, building systems, and amenities. The space provided at the complex offers tenant identity opportunities, window line, access to natural light and flexibility.
On-site amenities include a full-service cafeteria, multi-media conference center, lounge, and fitness center with full-service locker rooms. There are 2,200 parking spaces available for tenant use. KS Partners will manage the property and will have a management team on-site.
“We are pleased to be adding this strong asset to our MetroWest portfolio,” said Kambiz Shahbazi, president and founder of KS Partners. “Marlborough has a reputation of being very business-friendly, which attracts a strong tenant base and is evidenced by the uptick in nearby amenities.”
Marlborough Technology Park’s location offers access to I-495, Rte. 20, I-90, and Simarano Dr. The site is proximate to the new Apex Center of New England, a 475,000 s/f property featuring 11 buildings, a 150,000 s/f custom-designed entertainment complex, Hyatt and Marriott hotels, six restaurants, and 60,000 s/f of retail. This development is expected to be completed this fall.
The property is leased to a group of tenants, including Cavium, Inc. and ViaSat, both international public companies. Other major tenants include a variety of global companies such as Oracle, Roche, and Tetra Tech.
John Lashar of Transwestern will represent KS Partners for leasing.
KS Partners is a commercial real estate owner and property management company which owns and manages income producing real estate assets in the Northeast. The KS Partners portfolio strives for value appreciation through the capitalization of improved leasing, repositioning or redevelopment opportunities.
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