According to Grubb & Ellis EVP Jack Kerrigan, who is spearheading the marketing campaign, 72 Tyng Rd. is unique because the region is bereft of large sites that can support extensive construction. "Also," adds the veteran broker, "the site's proximity to Boston and the Nashua, NH, submarket make it an attractive investment for a variety of potential uses in the future." Other G&E professionals handling the sale are VP Steve Cook and senior account manager Anne Flanagan.

The main building is a 75,000-sf structure that was previously used to house the Wang Institute, a combination technology training facility and Chinese studies center founded by Wang Computers founder An Wang in 1979. The institute merged with Boston-based BU in 1987, at which time the school assumed control of 72 Tyng Rd. Kerrigan explains that BU decided to divest the asset and redeploy proceedings back to its main campus on the Charles River.

An asking price was not provided by the sellers, and industry observers spoken with were unable to provide any estimates given the lack of data regarding build out potential. From a commercial real estate standpoint, the Interstate 495 market has been on an impressive recovery of late, but there remains plentiful product for flex and office space users. One broker concurred, however, that the sheer size of 72 Tyng Rd. could draw a certain audience needing ample space for expansion. Although the 800,000-sf Sun Microsystems campus in Burlington was recently opened up to the tenant community, some firms with six-figure requirement have found the options along Route 3 slim, especially those saddled by time constraints.

Another potential benefit for attracting investors is Route 3 itself after an expansion completed earlier this decade has increased the thoroughfare's popularity due to decreased congestion. Some estimates put net absorption of office space at nearly one million sf for the year in the I-495 submarket where Route 3 is centered. The property also brings an historical element, having been on the map since the pre-colonial days upon being sold in 1660 to Edward Tyng. The prominent Boston businessman's stature there later resulted in him becoming the town's namesake.