Burlington, MA Newmark completed the sale of 1 Van de Graaff Dr., a class A suburban office asset. Newmark co-head of U.S. Capital Markets Robert Griffin, vice chairman Edward Maher, executive managing director Matthew Pullen and managing director Samantha Hallowell of the firm’s Boston Capital Markets Group represented the seller and procured the buyer, FoxRock. The sale price was not disclosed.
Comprising 157,229 s/f, 1 Van de Graaff Dr. is an institutional-quality office asset that benefits from on-site amenities including a full-service cafeteria and fitness center as well as walkability to diverse retail options within the nearby Wayside shopping center.
“1 Van de Graaff Dr. offers an attractive combination of in-place income via 73% occupancy and upside potential through the ability to lease up 42,100 s/f of current availabilities,” said Hallowell. “The asset is well located in Burlington, one of Greater Boston’s premier suburban submarkets, with excellent visibility and signage potential along I-95/Rte. 128.”
Given its access to I-95/Rte. 128, 1 Van de Graaff Dr. facilitates a convenient connection to downtown Boston in 30 minutes.