Spaulding & Slye Colliers principal Tamie R. Thompson, senior vice president Daniel E. Cordeau and associate Leslie H. Lanne negotiated the transaction. The office park is owned by Finard & Co. "After an extensive search in the market, Burlington Woods was the best option for H&R Block based on the location, park setting and overall value of the deal," says Cordeau.
The building is one of three located in Burlington Woods Office Park, a 388,000 sf suburban office complex located between Burlington Mall Road and Route 128 on 42 acres. Among its tenants are Genuity, Open Wave Software, Work Group Technologies and Xenergy.
Lease rates for this deal were not available, but the average asking rent for office space in the area is approximately $20 per sf. The area continues to have difficulty filling its space. According to Spaulding & Slye Colliers's most recent statistics, the area's availability rate for office space was at 31%.
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