GlobeSt.com UPDATE: Berwind Closes on $58M 3Com Campus Acquisition

MARLBOROUGH, MA-Its official. Berwind Property Group has purchased the 540,000-sf 3Com office campus on 3Com Drive near Route 495. The Philadelphia-based privately held real estate investment firm acquired the property for $57.8 million.

Kelly Cahill, a spokesperson for Berwind, confirms for GlobeSt.com that the firm closed on the deal, first reported on GlobeSt.com in late November. (Read earlier story.) The news is a bright light in an otherwise dismal market that has seen vacancy rates remain the mid 20% neighborhood.

The fact that some of the site was leased up before the sale made the property more attractive to Berwind. As part of the transaction, 3Com entered into a long-term lease to occupy one of the four buildings, which comprises 168,000 sf. An additional 30,000 sf is currently leased to one other tenant, National Grid.