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Capstone Properties Pays $24M For 128 Corporate Center

By Steve Adams | Banker & Tradesman Staff | May 20, 2016 | Reprints | Unlock Link

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Burlington-based Capstone Properties has acquired 128 Corporate Center in Burlington from E&F Realty Assoc. of Boston for $24 million.

The 107,427-square-foot building at 70 Blanchard Road is fully leased. Major tenants include management software provider Attunity, engineering firm Haley & Aldrich and Collaborative Consulting.

Cambridge Savings Bank furnished an $18 million mortgage.

Avison Young Principals Michael Smith and Scott Jamieson, along with Brandon Dickason and Derek Opert, a vice president and financial analyst, respectively, in the Boston office, represented the seller. Mark Coelho, a vice president and suburban market expert in Avison Young’s Boston office, provided leasing guidance.

“The building generated a lot of interest due to its prominent position within one of the top suburban investment markets in the country and diverse and stable tenant roster,” Jamieson said in a statement.

E&F acquired the property in 1993 for $5.3 million.

Commercial & Industrial