The park is a 153-acre office campus consisting of four buildings totaling 375,000 sf on 1700, 1800, 1900 and 2000 West Park Dr. near Routes 495 and 9. The acquisition was coordinated by Trammell Crow Co. principal James F. McCaffrey, senior vice president Peter S. Joseph and vice president Christopher A. Phaneuf. General Investment was represented by its director of office investments Nigel T. Keenan. Spaulding & Slye Colliers has been named exclusive leasing and property manager.
Keenan points out that the investment is a "high-quality core asset located in a mature market. The attractive location and institutional quality of the improvements should provide a competitive advantage for the asset as local and national economic conditions improve." Among the park's tenants are Heineken, Mobil Oil, Prudential, Chubb Insurance, Arch Communications and Drake Beam Morin.
This is the first acquisition in Windsor Realty Fund IV, General Investment's second suburban office-investment fund. The fund's investment strategy is to acquire properties built since 1980 with quality tenant rosters in institutional locations. Target markets include the Mid-Atlantic region; Southern Connecticut; White Plains, NY; Greater Boston; Suburban Chicago; Atlanta; and South Florida.
Boston-based General Investment has regional offices in Arlington, VA; Atlanta; Denver; and San Francisco. The firm's investment portfolio includes 42 communities with 16,000 apartment units in 17 states and nearly two million sf of commercial property in the Northeastern and Southeastern part of the country.
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