The Davis Cos. has acquired One Burlington Business Center, a four-story, 176,886 s/f office building, for an undisclosed price. The building is adjacent to the Lahey Hospital and Medical Center, walking distance from a wide variety of retail and dining options and offers direct visibility from Rte. 128.
"Burlington Business Center marks our third investment in Burlington," said Quentin Reynolds, managing director of acquisitions for The Davis Cos. "By completing a series of upgrades to the building, we plan to transform the property into a highly attractive alternative for tenants looking to offer their employees the utmost convenience in an amenity-rich environment."
As part of its planned upgrade program, The Davis Cos. will update and transform the office center's lobbies, cafeteria, fitness center and other common areas.
One Burlington Business Center offers access to Rte. 128/ I-95 and features, a 3.6/1000 parking ratio. Adjacent to Lahey Medical Center and close to both Wayside Commons and the Burlington Mall, as well as the many retail and service amenities on Burlington Mall Road, it provides prime convenience in a suburban location.
Lahey Hospital & Medical Center is the anchor tenant. There are seven additional tenants, including Silverlink Communications and Kema Inc.
The Davis Companies has made two additional investments in Burlington over the past four and a half years, including I and III Burlington Woods, two office buildings totaling 267,000 s/f that the company repositioned and sold in 2012; and Burlington Centre, owned in partnership with Principal Real Estate Investors, a 480,000 s/f, four-building, class A office park situated on 47 acres off of Rte. 3A, which The Davis Cos. and Principal are in the process of upgrading in order to take full advantage of the property's highly convenient location, campus setting and very high quality buildings.
Committed to excellence in both investment performance and operations, The Davis Cos. is an integrated real estate investment, operating and management firm headquartered in Boston that has invested in nearly $3 billion in gross asset value through real estate equity, debt, and fixed-income real estate securities. A unique combination of capital markets and management expertise allows The Davis Cos. to nimbly tackle complex and contrarian opportunities. Directly, and with its valued partners, The Davis Companies currently owns and manages a real estate portfolio of 12 million s/f.