"Great Point Investors was attracted to the property by itsstable and solid credit tenants, the quality of the improvementsand the long-term upside offered by the rent roll," says Cushman& Wakefield senior director Peter Joseph, whose firm brokeredthe deal on both ends. C&W colleagues James Belli, ChristopherPhaneuf, Thom Powers and J.P. Plunkett joined Joseph in handlingthe transaction.

Built in 1973 and 1989, 15-45 Dan Rd. was upgraded by New BostonFund after the private opportunity investor purchased the buildingsthree years ago for $10.2 million. The 276,000-sf of space is nowfully occupied, with such firms as Home Depot, Stop & ShopSupermarkets, Safety First and Network Engines all using theproperty as their regional headquarters. Great Point Investors,which made the acquisition on behalf of an institutional pensionfund, has also hired C&W to manage the property.

Founded by the high-profile Rappaport family in 1993, the NewBoston Fund has been one of the more active real estate companiesin recent years, with holdings throughout New England and as farwest as Ohio. Among its purchases this year have been WatermillCenter, a 206,000-sf office building in Waltham bought for $35.6million, as well as 33 Boston Post Rd. in Marlborough, a 107,000-sfproperty acquired for $12 million. In all, New Boston plans toexceed $200 million in acquisitions this year following $257million worth of purchases in 1999.