The parent company of Archer Hotels has acquired a development pad on Nordblom Co.’s third Avenue retail boulevard in Burlington for its first New England location.
Lodgeworks paid $4 million for the 2.75-acre site. The property with frontage on Middlesex Turnpike previously contained a single-story R&D building that was demolished this spring.
Nordblom is gradually replacing aging office and research buildings within the 127-acre Northwest Park with retailers, restaurants and multifamily housing. A subsequent phase will include a 135,000-square-foot Lifetime Fitness Club and a 245,000-square-foot build-to-suit office building.
HFF’s Denny Meikleham and Alan Suzuki represented Nordblom Co. in the Archer transaction.
Archer Hotels is a boutique brand with locations in Manhattan and Austin, Texas and properties under development in Florham Park, New York and Napa, California.