Press Release brought to you by CBRE/New England

CBRE/New England Sells 313 Speen Street, Natick for $8.6M

04/09/2014

Wednesday, April 9, 2014

 

 

CBRE/New England Contact:

Kara DeMichele

Tel: 617.912.7038

kara.demichele@cbre-ne.com

 

 

 

CBRE/New England Sells 313 Speen Street, Natick for $8.6M

Office building sold in one of Boston’s most dynamic submarkets

 

BOSTON (April 9, 2014) — CBRE/New England’s Capital Markets team announces the sale of 313 Speen Street in Natick, Massachusetts for $8.6 million. CBRE/New England’s Chris Angelone, Steve Murphy, Bruce Lusa and John Meador represented the seller, Gerrity Family Associates, and procured the buyer, 313 Speen LLC. The ±59,453 square foot classic brick and ribbon window office building is 70% leased to a diverse rent roll including medical, technology and service-based companies.

 

“We are pleased to have facilitated this transaction on behalf of Gerrity Family Associates,” said CBRE/NE’s Angelone. “313 Speen Street is a multi-dimensional property that will continue to present opportunity due to its superior location.”

 

Approximately 20 miles west of Boston, 313 Speen Street is located less than a mile off Interstate 90 (Mass Pike) at Exit 13, directly across from the Natick Mall, a premier enclosed regional mall. The property is situated at a signalized intersection at the junction of Route 9, providing immediate access to the area’s rich amenity base. The Metro West market attracts top talent from world-renowned universities and medical institutions due to its proximity to Boston and regional accessibility. As a result, 313 Speen Street draws from a deep, well-educated workforce, including the area’s strong field of medical professionals. The property’s convenient location and high visibility allow it to compete exceptionally well for a diverse range of users. Together with in-place income, 313 Speen Street is ideal for a variety of repositioning strategies.

 

 

 

About CBRE/New England

CB Richard Ellis – N.E. Partners, LP, a joint venture with CBRE Group, Inc. has offices in Massachusetts, Connecticut, Rhode Island, Maine and New Hampshire. Please visit our website at www.cbre-ne.com. CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (in terms of 2013 revenue). The company has approximately 44,000 employees (excluding affiliates), and serves real estate owners, investors and occupiers through approximately 350 offices (excluding affiliates) worldwide. CBRE offers strategic advice and execution for property sales and leasing; corporate services; property, facilities and project management; mortgage banking; appraisal and valuation; development services; investment management; and research and consulting.

 

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04/09/2014 - 14:01

Source

CBRE/New England

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