Newmark announces the sale of Concord Road Corporate Center, a three-building office campus located 25 miles northwest of Boston in Billerica, Massachusetts. Newmark Co-Head of U.S. Capital Markets Robert Griffin, Vice Chairman Edward Maher, Executive Managing Director Matthew Pullen and Managing Director Samantha Hallowell of the firm’s Boston Capital Markets Group represented the seller and procured the buyer, KS Partners, in conjunction with Newmark Executive Managing Director Torin Taylor. Newmark Senior Financial Analyst Dominick Romano provided financial analysis support.
Comprising 362,550 square feet, Concord Road Corporate Center has been fully transformed into a Class A office complex with upgrades to its exterior, lobbies and on-site amenities completed in recent years. The property’s extensive on-site amenity package includes a café, fitness center with lockers and showers, conference center, game room and collaboration/training center as well as an outdoor patio, bocce court and seating area.
“Concord Road Corporate Center is strategically situated along the Route 3 corridor, which is a primary destination for technology and innovation tenants,” said Matthew. “The asset is well suited to accommodate the open, collaborative layouts that are typically sought after by these users via its flexible floor plates, expansive window line and up to 12-foot ceiling heights.”
Concord Road Corporate Center is well positioned along Route 3 between Interstates 95 and 495, facilitating a seamless commute for employees located across the suburban Boston and southern New Hampshire labor markets. Corporate neighbors in its immediate area include Conformis, E Ink, GE subsidiary Baker Hughes, Parexel and Raytheon.
According to Newmark Research, Billerica is located within Greater Boston’s Interstate 495 North submarket, which includes 18.9 million square feet of office inventory, 10.3 million square feet of which is classified as Class A.
About Newmark (Nasdaq: NMRK)
Newmark Group, Inc., together with its subsidiaries, is a world leader in commercial real estate services, with a comprehensive suite of investor/owner and occupier services and products. Our integrated platform seamlessly powers every phase of owning or occupying a property. Our services are tailored to every type of client, from owners to occupiers, investors to founders, growing startups to leading companies. Harnessing the power of data, technology, and industry expertise, we bring ingenuity to every exchange, and imagination to every space. Together with London-based partner Knight Frank and independently owned offices, our 18,800 professionals operate from approximately 500 offices around the world, delivering a global perspective and a nimble approach. In 2019, Newmark generated revenues in excess of $2.2 billion. To learn more, visit nmrk.com or follow @newmark.
