"We really like it as a long-term hold," explains CPG COO DougMcGregor. The buyer was drawn by the presence of Xerox Corp. asanchor tenant and the overall quality of the asset, he says, plus"it has a very good occupancy history and is well located just offRoute 24." Physical features include 14.5-foot clear ceilings,ribbon windows and a pair of tailboard loading docks.

The off-market opportunity was brought to CPG by LincolnProperty Co. VP Gian Starita tells GlobeSt.com that the arrangementmet the objectives of both parties, with the seller expecting touse the proceeds for a retail investment. "Everyone got what theywanted," relays Starita, who was joined by Lincoln colleague NedHalloran in representing the seller and securing the buyer. As thenew year commences, Starita says he is encouraged by the level ofactivity, especially in the wake of a market slowdown for propertysales late in 2007. "We're going to be busy," he predicts of thefirst quarter.

CPG is among the players scanning New England for investments,says McGregor, who reports that the company's principals have adeep pool of experience in various product types, includingresidential and retail that extend beyond the Northeast. As such,the firm is able to consider a range of options. "We're justlooking for smart opportunities," says McGregor. In the case of 5Campanelli Circle, CPG feels especially comfortable due to therelative lack of competing flex product in the area, he says. Thatconfidence is already being rewarded, with CPG able to fill oneblock of space while negotiations for the sale were ongoing.McGregor says interest in the remaining 7,000 sf is encouraging aswell.