BPG acquisitions specialist Albert Corr declined comment on thematter when contacted by GlobeSt.com, relaying that he could"neither confirm nor deny" reports that the firm has emergedvictorious. A broker handling the sale, Catherine Daume of JonesLang LaSalle, says the property is "under agreement," but would notdiscuss the buyer or other details, including the sales price. Somereports put the figure above $65 million, although no exact figurecould be determined. Nonetheless, sources insist that BPG is thesuitor trying to put the finishing touches on the deal.


BPG has been pursuing investment opportunities in Massachusettsafter selling off a number of local properties in the past twoyears, including the 3Com corporate campus in Marlborough,1210-1230 Washington St. in Newton and two properties onBallardvale Avenue in Wilmington. Befitting the company's hands-onapproach, BPG was able to reposition each asset during its tenureprior to selling them at substantial profits. After buying 3Com in2002 for $58 million, for example, the 125-acre, 540,000-sfproperty traded for $135 million last September.


Constructed between 1982 and 1987, Westborough Office Park isconsidered supremely located, but there is extensive vacancy in twoof the buildings. According to one document, 51% of 1800 West ParkDr.'s 101,000 sf is empty and 1900 West Park Dr. has a 36% vacancyfor its 93,000 sf. The newest and largest property, 1700 West ParkDr., has a 91% occupancy for 118,000 sf, while the 25-year-old 2000Park Dr. is at 97% occupancy for 63,000 sf.


Given the level of vacancy that needs to be addressed, observerssay the Westborough Office Park fits into BPG's value-addedapproach. "That's a good one for them to tackle," says a brokerfamiliar with BPG and the park.

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