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News:
Owners Developers & Managers
Posted: January 11, 2019
NKF orchestrates sale of 25 Mall Rd. to Piedmont Office Realty Trust
Burlington, MA Newmark Knight Frank (NKF) has completed the sale of 25 Mall Rd. to Atlanta-based Piedmont Office Realty Trust. On behalf of the seller, vice chairman Edward Maher, executive managing director Matthew Pullen, managing director James Tribble and director Samantha Hallowell of NKF’s Boston Capital Markets team – which is led by co-head of U.S. Capital Markets Robert Griffin – oversaw the transaction of the class A office building. The sale price was not disclosed.
Totaling 287,776 s/f, 25 Mall Rd. is presently 88% leased to a tenant roster anchored by Lahey Hospital & Medical Center, Merrill Lynch, 89 Degrees, TTEC, MicroTek and CENTRA Technology.
The six-story asset features a variety of on-site amenities including a conference center, fitness center, coffee kiosk and full-service cafeteria with an outdoor patio.
“25 Mall Road represents an institutional-quality asset featuring flexible, efficient floor plates and a ‘sticky’ rent roll,” said Pullen. “The property boasts a strong history of tenant retention, serving as a clear testament to the quality of the asset and its location.”
The asset has a prominent positioning along Mall Rd., a major thoroughfare, with access to I-95 (Rte. 128) and Rte. 3 complemented by MBTA bus service to the Alewife Red Line station.
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