Image courtesy of JLL

An EMC office building and data center in Hopkinton will be repositioned for R&D and flex tenants following its sale to a Boston developer.

Rhino Capital Advisors acquired 117 South St., a 56,324-square-foot building near Interstate 495, for $4.1 million. Developers received $8 million in financing from Webster Five for the acquisition and the repositioning project, according to a Middlesex County mortgage.

Rhino Capital plans to take advantage of the facility’s infrastructure including robust floor loads and ample power capacity to position it for R&D and flex tenants, according to brokerage JLL.

The plans include removal of a portion of the second floor.

Managing Director Mike Restivo and Senior Director Scott Carpenter of JLL’s investment sales team represented the seller, while Senior Managing Directors Brett Paulsrud and Tom Sullivan of JLL’s debt advisory team arranged the financing.

The facility was constructed in 1981 and acquired by EMC Corp. in 1999 for $3.7 million.

EMC Data Center Sold for R&D Conversion

by Steve Adams time to read: 1 min