The three-story building is located near Route 128 and the Massachusetts Turnpike and is currently fully leased. Among its tenants are Reed Elsevier, Med Tac Group, Scheur Management Group and Vacovec, Mayotte & Singer.

The property was purchased by Boston Capital on behalf of an offshore client. In place rents in the building are in the high $20s, below the market rate of mid $40s. According to Ben Breslau of Spaulding & Slye Colliers International, the $238 per sf paid for this building is relatively high for the suburban market.

"The suburbs just started to break the $200 per sf mark last year," Breslau tells GlobeSt.com. Peter Joseph, senior director of financial services at Cushman & Wakefield and the lead broker for this transaction, agrees that the building commanded a high price but he notes that it is a safe investment. "It is absolutely a core suburban asset," he tells GlobeSt.com. "It is one of the highest quality buildings, it is midway between Route 128 and Boston and it is right off the Pike. It is best in class quality."