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WALTHAM, MA-A permanent $3.8 million mortgage was arranged for 300 Third Ave. Meredith & Grew’s finance and capital market group’s Kevin C. Phelan, executive vice president, and John J. Broderick, assistant vice president, secured the loan from a local bank.

The 22,000 sf first-class, office building is situated on nearly two acres of land and is fully leased to Mentor Graphics. The building is located within the Prospect Hill Office Park, an 800,000-sf park comprised of class A and B office space. It overlooks Route 128 and is less than 10 miles from Boston and near the Massachusetts Turnpike interchange.

“Our lender did a great job for our client on this transaction,” says Broderick. “They were able to recognize the strength of this asset with its high-profile location overlooking Route 128 and deliver a very competitive deal.” The average asking rent for office space in Waltham is at about $21 per sf.

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