Image courtesy of Newmark

A state-leased office building completed in 2020 in Burlington traded for $14.3 million as part of a 1031 exchange.

The 328-330 Cambridge St. property is a single-story 21,000-square-foot office building fully leased by the Massachusetts Department of Children and Families.

The buyer, Chelmsford RE Group LLC, acquired the property as part of a 1031 tax-deferred exchange.

Newmark’s capital markets team represented the seller, identified by Middlesex Registry of Deeds records as 328 Cambridge Iconic LLC of West Hempstead, New York.

Developed specifically to accommodate the DCF offices, the property is adjacent to an MBTA bus stop and includes 72 on-site parking spaces.

“328-330 Cambridge St. presented an extremely rare opportunity to acquire a government-leased asset that features a true net lease structure,” Newmark Associate Casey Valente said in a statement.