A 117,000-square-foot office/flex building at 80 Wilson Way in Westwood has sold for $12.3 million.

The one-story renovated building will be leased on a long-term basis to KLA-Tencor. The California-based semiconductor equipment maker will lease the entire property.

Michael Grill, president of Fairlane Properties Inc. will lead the newly-formed Fairlane Westwood LLC.

"With our investors seeking properties with strong cash flow in this volatile time, 80 Wilson Way provides us with a great asset in the strong Route 1/Route 128 South submarket with years of cash flow from one of the world’s largest semiconductor equipment makers," said Grill. "80 Wilson Way is located at a terrific intersection in the midst of a cluster of semiconductor, instrumentation and biotech companies, including Analog Devices, Instron, LTX, Advanced Instruments and Immunogen."

Brookline Bank provided financing of $7.6 million for the purchase. Fairlane Properties Inc. raised $5 million in a private equity placement with several local investors.

Peter Joseph and Sarah Lagosh of Eastdil Secured represented the seller, a New Boston Fund nominee trust, in the transaction.