Atlanta-based Piedmont Office Realty Trust has acquired an office property in Burlington for $74 million.

The 287,776-square-foot, six-story building at 25 Burlington Mall Road is 88 percent leased to tenants including Lahey Hospital & Medical Center, Merrill Lynch, 89 Degrees, TTEC, MicroTek and CENTRA Technology. Amenities include a conference center, full-service cafeteria with outdoor patio and fitness center.

The seller, Prim 25 Mall Road LLC, paid $77.1 million for the property in August 2013.

Newmark Knight Frank’s capital markets team oversaw the transaction.

“25 Mall Road represents an institutional-quality asset featuring flexible, efficient floor plates and a ‘sticky’ rent roll,” Newmark Executive Managing Director Matthew Pullen said in a statement. “The property boasts a strong history of tenant retention, serving as a clear testament to the quality of the asset and its location.”

Piedmont Buys Burlington Office Property for $74M

by Banker & Tradesman time to read: 1 min
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