New Boston Fund Buys a Pair of Boxborough, Mass., R&D Buildings for $19.7 Million.BOSTON Boston, town, England Boston, town (1991 pop. 26,495), E central England, on the Witham River. Boston's fame as a port dates from the 13th cent., when it was a Hanseatic port trading wool and wine. Having recovered from a decline in the 18th and 19th cent. -- Boston real estate firm acquires two buildings totaling 203,619 square feet from National Development/Fidelity joint venture New Boston New Boston is the name of some places in the United States of America:
LLC - Logical Link Control and 159 Swanson LLC, a joint venture between National Development and Fidelity. The buildings, constructed in 1984 and 1985, are located near the Cisco Systems “Cisco” redirects here. For other uses, see Cisco (disambiguation). Cisco System,Inc. (NASDAQ: CSCO, HKSE: 4333 ) is an American multinational corporation with 54,000 employees and annual revenue of US $28.48 billion as of 2006. campus, just off Route 495 in Boxborough. The building at 159 Swanson Road is fully occupied by Setra Systems, a leading designer and manufacturer of weight, pressure, and acceleration sensing devices. Its lease runs through January 2008. The other building at 155 Swanson is fully occupied by SynQor, a technology leader in high efficiency dc/dc converters for distributed power architectures. That tenant's lease runs through 2013. Trammell Crow's Peter Joseph and Chris Phaneuf served as the brokers on the deal. New Boston Fund acquired the building for $97 per square foot. New Boston Fund believes the overall commercial real estate market in Massachusetts Massachusetts (măsəch  `sĭts), most populous of the New England states of the NE United States. is showing signs of improvement and this purchase was particularly attractive because there are a limited number of choices for research and development facilities of this nature. "We bought these assets due to the quality and the stability of the properties, which have no leasing exposure for the next three years," said Robert Kirschner Kirschner named after Martin Kirschner, a German surgeon, a name commonly associated with surgical equipment. Kirschner apparatus , vice president of acquisitions for New Boston Fund. "The properties offer in-place income and strong cash on cash returns to our investors." New Boston Fund currently owns more than 3 million square-feet of space in Massachusetts, including the Franklin Commerce Center, a 233,000-square-foot warehouse/distribution center along Route 495 in Franklin, and One Brigham Circle, a 190,000-square-foot, mixed-use office and retail center in Boston's Mission Hill neighborhood. In December, One Brigham Circle was named Boston's Building of the Year by the city's chapter of the Building Owners and Managers Association This article or section needs sources or references that appear in reliable, third-party publications. Alone, primary sources and sources affiliated with the subject of this article are not sufficient for an accurate encyclopedia article. . About New Boston Fund Based in Boston, New Boston Fund is one of the fastest-growing private real estate investment, development and management firms in New England New England, name applied to the region comprising six states of the NE United States—Maine, New Hampshire, Vermont, Massachusetts, Rhode Island, and Connecticut. The region is thought to have been so named by Capt. . Founded in 1993 by the Rappaport family of Boston, New Boston Fund owns and manages more than 13 million square feet of commercial real estate worth more than $1.3 billion. |
|
||||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion