Jones Lang LaSalle's (JLL) capital markets experts have closed the sale of Five Burlington Woods, a 95% leased, 103,973 s/f class A office building on Rte. 128, on behalf of ELV Associates, Inc. Capstone Properties purchased the three-story building for $21.125 million.
Managing directors Frank Petz and Jessica Hughes, and vice president Robert Borden led the JLL investment sales team, along with associate Matthew Sherry. Managing director Tamie Thompson and vice president Tyler Spring provided leasing expertise.
"This offering gave investors the unique opportunity to purchase a core asset in the heart of the 128 corridor, surrounded by best-in-class amenities and a concentration of leading technology companies," said Petz.
Located at the east end of Burlington Mall Rd. at the Rte. 128/Rte. 3A interchange, Five Burlington Woods has entrances on Burlington Mall Rd. and South Bedford St. Adjacent to the property is the Burlington Marriott, and Wayside Common is also close. Anchored by Fay, Spofford & Thorndike, other tenants at Five Burlington Woods include Axial Financial Group, Orbis, Linear Retail Properties, and CCS America. On-site amenities feature a café with dining room and catering services, covered parking, restaurants, conference facilities, and health club.
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