"It commands an exciting location in the marketplace," Murphysays of the property, which is located off Route 128 and isadjacent to South Shore Plaza. "For many tenants looking for awell-located, value opportunity, I think this is going to be wellreceived."

Campanelli Cos. will spend about $18 million to renovate theproperty, constructing new entry lobbies and common areas, andupgrading landscaping and mechanical systems, Murphy says.

With floor plates of 40,000 sf , high corporate visibility,covered parking and views of a nearby reservoir the property iswell suited for larger tenants and should be substantially leasedwithin 18 months, he adds. "For tenants looking for 40,000 sf ormore of contiguous space, they're going to have to seriously lookat this as an alternative," he notes, adding that severalprospective tenants have already viewed the complex. Lease rates onoffice space, however, have not yet been established but willremain "competitive with the market," Murphy adds.