X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

CHELMSFORD, MA-NPV/Direct Invest picked up its third asset in the last two months with the $12.4-million acquisition of a fully leased, 82,228-sf office and R&D building in Chelmsford’s Altid Business Park. The purchase of 2 Omni Way from Westborough-based Carruth Capital LLC follows the buyer’s $17.1-million acquisition of two high visibility, fully leased buildings at 4 and 6 Omni Way in December. NPV/Direct Invest also owns 5 Omni Way in the same business park.

The two-story building, which is fully leased to high-tech work force solutions provider Kronos Inc. under a long-term lease through June 2012, is NPV/Direct Invest’s fourth buy in the 30-plus building, 1.5-million-sf, master-planned business park in the last two years. All four buildings are located in the business park’s Omni sub-park.

Chris Griffin, with Cushman & Wakefield’s Capital Markets team, tells GlobeSt.com that competition was stiff for the Omni Way property.

“The asset garnered interest from both institutional and private investors,” he says. It was NPV/Direct Invest’s reputation as a deal closer and the firm’s demonstrated ability with its three prior purchases that helped the Boston buyer.

Robert Griffin, president of Cushman & Wakefield’s New England region, which represented the seller and procured the buyer in the transaction, called the firm’s latest purchase “a highly valued investment” because of its quality construction and long-term, credit worthy tenant.

“The sale of 2 Omni Way offered superb pricing for Carruth and provided NPV with an excellent match for its investment program,” Griffin says in a statement.

Both Chris and Robert Griffin as well as Marci Griffith Loeber and Richard Putprush, worked on the transaction.

In December, NPV/Direct Invest acquired 4 Omni Way, a two-story, 81,780-sf office and R&D facility set on 7.8 acres, and its slightly smaller twin, a two-story, 51,300-sf facility on 4.6 acres at 6 Omni Way. The firm picked up its first Chelmsford property in 2005 when it acquired 5 Omni Way in the same business park.

Officials from NPV/Direct Invest did not return calls to the firm’s Boston office by GlobeSt.com.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.