The three office buildings here total 216,000 sf and include tenants such as Liberty Mutual, Applix, The March of Dimes and Federal Reserve Bank. The building in Southborough is 71,000 sf and has the Ford Motor Company as its primary tenant. The buildings are on Route 9,near Routes 495 and the Massachusetts Turnpike, 25 miles from Downtown Boston.
This is Advance Realty's first foray into the Boston marketplace. The company's managing director for capital markets/acquisitions did not return calls by presstime but in a released statement he said, "This four-building portfolio reflects our strategy of acquiring under-valued opportunities in prime locations."
The NJ-based real estate development organization specializes in suburban offices, flex and research and development properties in the Northeast. Through an investment subsidiary, the company plans to acquire 4500 million in property in the Northeast over the next two years.
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