Burlington, MA Lee Partners of New England, a commercial real estate firm helping clients find superior leases and workspaces, recently brokered the successful sale of a 13,000 s/f commercial office building.
The property, located at 155 Middlesex Tpke., was owned by G.F. Properties LLC and served as headquarters for the accounting firm of Fulchino, O’Reilly & Co P.C.
G.F. Properties managing partner Tom Fulchino said that his firm bought the building in 1998, and totally renovated the building between 2000 and 2001.
Fulchino, O’Reilly & Co. was founded in 1988; a year and a half ago their firm merged with another firm, Tonneson + Co. PC in Wakefield, which prompted them to begin the process of relocating. G.F. Properties then put the building on the market.
G.F. Properties sold the property for $2.2 million to the owners of Ovitas, Inc., a specialized boutique software company. The new owners plan to move from their current location at 60 Mall Rd., to the new building over the next 6 to 12 months. They will make renovations to the property to have it meet the unique space requirements of their existing company.
Bruce Lee, principal/founder of Lee Partners, said that key factors leading to the sale included the excellent condition of the maintained property, parking, close proximity to the buyer’s current location, and occupancy levels that allow for future company expansion within the building. He represented the sellers in the transaction.
The buyer was represented by Joel Aho of O’Brien Commercial Properties.
Lee said, “It was a distinct pleasure to work with the great team of Tom Fulchino, Tom O’Reilly, and their assistant Eleanor Mooney throughout the six month marketing program leading up to the recent sale.” He added, “It was additionally a pleasure for us to meet the conscientious folks at Ovitas, and we wish the new owners well in this location.”
Tom Fulchino said, “It was great to work with Bruce Lee and Lee Partners. I have known Bruce for 25 years. He is a great guy, a true professional, and made everything come together very smoothly. We were very happy with his representation and the result.”
“Tibor Tscheke, president and CEO of Ovitas, Inc. said, “Bruce and his team did a fantastic job in this transaction. They were very quick in providing any information our side needed, and handled the communication between the buyers and sellers very well.”
“This is a great market for commercial property,” said Lee. “With our Greater Boston business market in a strong position, this is a good climate for businesses seeking to relocate or expand. We have seen a strong uptick in interest in commercial real estate properties.”
Bruce Lee founded Lee Partners in 1998, having previously worked for 15 years in the corporate commercial real estate field. By creating a nimble and focused shop, he has been able to offer high-quality, individualized service to corporate clients. Bruce Lee of Lee Partners of New England has brokered in excess of 4,000,000 square feet of commercial real estate space. Clients in the past that Bruce Lee represented have included Microsoft, Lucent Technologies, Eastman Software, Kodak and Goodrich. Current clients include rapidly growing technology and life sciences companies within the Rt. 128-495 area of eastern Massachusetts and Cambridge. Lee Partners of New England helps businesses with locating high performance workspace, lease negotiation, space planning, strategic planning, lease analysis, and needs assessment. Lee Partners of New England works across a wide range of industries. Lee Partners of New England maintains office space at 101A First Ave., Waltham, Mass. and serves the commercial real estate needs of eastern Massachusetts and beyond.
