"It was a natural fit for them to acquire this building and combine the two into the park campus that it was designed to be," David J. Pergola, with Meredith & Grew's Investment Sales group, tells GlobeSt.com. The REIT also owns One Executive Dr., which it recently acquired as part of a four-million-sf portfolio buy, Pergola says.
Built in 1989 at the intersection of Interstate 495, Route 3 and the Lowell Connector, Two Executive Dr. is approximately 70% occupied by tenants that include Rockwell Automation, which has a lease on the property for the next several years, Pergola says. Market rents in the area are $10 to $12 per sf. Pergola, along with colleagues Sara Lagosh and David L. Pergola represented the seller and procured the buyer.
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