Lemire and Reardon of CB Richard Ellis assist in $2.85 million sale of 75,500 s/f

Taurus Investment Holdings, LLC has purchased 95 Billerica Ave. from Y-Cee Investments. The property was purchased by an affiliate of Taurus Investment Holdings for $2.85 million. The transaction was handled by Gary Lemire and Mark Reardon of CB Richard Ellis. Located less than two miles from I-495 at exit 37, 95 Billerica Ave. is a 75,500 s/f building shell on 13.12 acres. The building is suited to a variety of uses including office, flex, light assembly, and lab. "The purchase of this property evidences our commitment to the Boston market," said Peter Merrigan, president of Taurus Investment Holdings. "We were attracted to 95 Billerica Avenue because of the flexibility of the asset, as well as the overall value of the property as compared to today's replacement cost and construction pricing. Based on these factors, we can be very aggressive in the leasing of this asset by passing on significant savings to tenants looking for space in this market." Mark Reardon, Executive Vice President/Partner and Jason Levendusky, First Vice President, both of CB Richard Ellis, head up the leasing efforts for the property. Gary Lemire and Patrick Cavanagh, both Senior Vice Presidents/Partners with CB Richard Ellis' Capital Markets Team, worked on the sale with the leasing professionals. "Given the low basis of the property, Taurus has the ability to offer transactions 25-30% below current market rents," stated Mark Reardon. "The below-market rent, combined with the building's easy access on/off Route 495 provides an excellent low cost alternative to tenants."