Peter Farnum, principal and John McHugh, vice president, both of Trammell Crow Co., represented property owner, HRPT Properties Trust and facilitated the transaction for Care Group/BIDMC. Care Group is a healthcare provider and includes Beth Israel Deaconess Medical Center, Mount Auburn Hospital, New England Baptist Hospital, Deaconess and Glover Hospital in Needham and Deaconess Hospital in Ayer.
The building consists of nearly 300,000 sf of space and is located adjacent to the Yawkey Commuter Rail Stop. The building's anchor tenant is US Sprint.
Lease rates for this deal were not available, but the average asking rent for space in the area is about $25 per sf. According to Trammell Crow Co.'s most recent statistics, the area has a relatively low overall availability rate of just under 8%.
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