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DLJ Sells City Square Offices After Expansion Project

Photo courtesy of Google Maps

A Charlestown office building that was expanded under the ownership of DLJ Real Estate Capital Partners sold to a Burlington developer for $9.5 million.

R.J. Kelly Co. acquired the 40 Warren St. property in City Square. Westerly, Rhode Island-based Washington Trust Co. provided a $6.6 million mortgage for the acquisition.

New York-based DLJ acquired the 53,000-square-foot property in 2018 for $7.3 million.

In 2021, it completed the addition of a fourth floor to the original 1917 building, and converted the second floor from parking to class A office space and amenities in a project designed by Boston-based architects Visnick & Caulfield.

The property had been listed by brokerage JLL as Charlestown’s only class A office building.

Commercial & Industrial