Meredith & Grew's John E. Butterworth, a vice president, represented FastChannel in the transaction while property owner the Bulfinch Cos. was represented in-house by Michael Wilcox.
The 72,831-sf three story building is located directly off Route 95 and is visible from the highway. The facility was developed by Bulfinch over five years ago and is nearly fully leased with about 7,000 sf still available. Its key tenant is Brooktrout Technology Inc.
Lease rates for this deal were not available, but the average asking rent for office space in the area is about $25 per sf. Vacancy rates remain at about 20% according to Grubb & Ellis's third quarter statistics.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
