The three-story, 121,000-sf building, which was built in 1985 and renovated in 1996, is located near the Route 4/Route 128 interchange in the commercially zoned office, research and development district established by Lexington adjacent to the Hanscom Field research and technology facilities. It is situated on a 15-acre site with 427 surface parking spaces. Among its major tenants are Rational Software Corp., Summit Financial, Boeing Co. and Webhire.
Lease rates for this deal were not available, but the average asking rent for office space in the area is about $20 per sf. According to Grubb & Ellis's most recent statistics, the area's vacancy rate is at 25%.
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