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Forrester HQ Sold in $139M Transaction

By Steve Adams | Banker & Tradesman Staff | Aug 14, 2019 | Reprints | Unlock Link

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Boston-based developer Bulfinch has acquired the Forrester headquarters within Cambridge Discovery Park, giving it ownership of the entire 27-acre property.

The $138.75 million transaction at 60 and 90 Acorn Park Drive includes the 6-story, 193,000-square-foot Forrester office building and a 650-space parking garage.

The acquisition from CBRE Global Investors is a joint venture between Bulfinch and two undisclosed institutional investors. People’s United Bank provided long-term financing. The property was originally developed by Bulfinch in 2011 and later sold in 2014.

Bulfinch’s speculative development of the 283,000-square-foot building 400-500 is scheduled for completion in early 2020. FogPharma leased 114,490 square feet in June to become the first committed tenant.

B&T Daily