Cushman & Wakefield completed the sale of Solomon Pond Park, to Nordblom Company for $34 million. The Cushman & Wakefield team, led by president Robert Griffin, vice chairman Edward Maher and executive director Matt Pullen oversaw the transaction of the 7-building, 494,701 s/f portfolio on behalf of Great Point Investors, LLC.
Solomon Pond Park is comprised of seven buildings, including 150, 200, 290, 295, 400, 450 and 500 Donald Lynch Blvd., which range from three-story class A properties to a stand-alone specialty building. Each property boasts unique individual features, amenities and flexibility to accommodate tenants of varying sizes and industries. The portfolio features a wide range of tenants including SanDisk, Areva NP, Brookfield Renewable Power, W.R. Berkley, TOSHIBA, and Senko Advanced Components.
"Presently 69% leased, Solomon Pond Park presented investors with a unique value-add potential in the heart of suburban Boston's fast-growing Marlborough micromarket," said Pullen. "The portfolio's location ensures its appeal to premium tenants looking for an alternative to the Boston market while maintaining proximity to the region's intellectual capital, infrastructure and amenities."
Solomon Pond Park is situated in one of the most dynamic and desirable investment markets in the United States: the 191.8 million s/f Greater Boston office market. Prominently located at the junction of I-290/I-495, the 50-acre portfolio offers unmatched on-site amenities including two miles of landscaped walking trails, state-of-the-art fitness center, cafeteria with patio seating, and collaborative outdoor space. The property is also surrounded by 1.1 million s/f of retail, restaurants, and entertainment within walking distance including the Solomon Pond Mall with over 120 shops, Target, New England Sports Center, and a 112-room Marriott Residence.
Cushman & Wakefield advises and represents clients on all aspects of property occupancy and investment. Founded in 1917, it has 250 offices in 60 countries, employing more than 16,000 professionals. It offers a complete range of services to its occupier and investor clients for all property types, including leasing, sales and acquisitions, equity, debt and structured finance, corporate finance and investment banking, appraisal, consulting, corporate services, and property, facilities, project and risk management.
For the New England area, Cushman & Wakefield maintains offices in Boston, Mass.; Manchester, NH; Hartford and Stamford, Conn.; and Portland, Maine.
Nordblom Company is a real estate enterprise with a 90-year history of investing, managing and developing properties throughout the New England region and select markets across the country. The company currently owns office, commercial and multi-family properties in the New England and Carolina markets and is committed to creating dynamic work and living environments that further the quality of life for the people who occupy its properties. Headquartered in Burlington, Massachusetts with offices in Boston, Brookline, and Raleigh, North Carolina, Nordblom Company has $1.2 billion in assets under management.