Burlington-based R.J. Kelly Co. has acquired Lexington Corporate Center on Maguire Road from Normandy Real Estate Partners for $46 million.

The developer plans to rebrand the 283,798-square-foot campus and upgrade common areas for collaborative and creative tenants, CEO Brandon Kelly said. The acquisition, a partnership with Independencia Asset Management, is viewed as a long-term holding, Kelly said.

The complex, a former optics factory which produced components for NASA’s Hubbell telescope, was converted into a four-building multitenant office complex in the late 1980s. Normandy paid $47.5 million for the property in 2006.

Normandy renovated the lobbies in 2013, but R.J. Kelly now plans an “aggressive” capital improvements program designed to enhance such elements as the landscaped central courtyard, fitness center and indoor/outdoor dining spaces. It is currently 96 percent leased; the largest tenant is health care IT provider Imprivata.

JLL Boston’s capital markets group represented the seller. Cambridge Savings Bank provided $32 million in mortgage financing.

R.J. Kelly Co. owns approximately 3 million square feet of commercial real estate across New England, including office, industrial, R&D space and self-storage facilities.