Paul Stevens of Lend Lease confirms for GlobeSt.com that theproperty, which Finard & Co. developed in 1982, was sold.Roberto Magno, an analyst in the acquisitions group at New BostonFund tells GlobeSt.com that the selling price was $18 million or$175 per sf, which, he notes, "is on the low end of the scale."Magno points outs that, given the current economic times, thispurchase was a safe acquisition. "It has no rollover, good creditand solid returns," he says. The building is 97% leased with itslargest tenant, the engineering firm Fay Spofford & Thorndiketaking up 50% of the building. Magno adds that his company isalways looking for acquisitions in this area. "We're a Boston-basedfirm," he says, "and this is a great market."

Founded in 1993, New Boston Fund, Inc. is a provider of realestate investment services and manages over $450 million of equitycapital and a total real estate portfolio valued at over onebillion dollars, located primarily along the Eastern seaboard andthroughout the Midwestern United States. In this area, thecompany's recent acquisitions include the Watermill Center inWaltham, 33 Boston Post Road in Marlborough and One Brigham Circlein Boston.

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