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STONEHAM, MA-HUB Acquisition Trust acquired One Montvale Avenue here. The 97,777-sf building was purchased from Archon Group for $9.2 million.

The five-story building is located in this town about 10 miles north of Boston, near Routes 93 and 95 and is currently 90% leased. Among the building’s main tenants are the US Food and Drug Administration, the Internal Revenue Service and the Massachusetts Eye & Ear Infirmary. The building’s amenities include an atrium and covered parking.

Chris Phaneuf of Cushman & Wakefield did not return calls by presstime but he is quoted as saying that the quality of the tenants and the convenient location of the building make this deal an attractive one and demonstrates that it has good long-term potential. Phaneuf along with Peter Joseph and Jim Belli of Cushman & Wakefield’s financial services group represented the seller and procured the purchaser in the transaction.

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