The three-story office building and five-story office, telecom and laboratory building is located in the heart of the Longwood Medical Area, a concentration of academic and medical institutions. The building consists of nearly 300,000 sf of space and is adjacent to the Yawkey Commuter Rail Stop. The building's anchor tenant is US Sprint.
Lease rates for this deal were not available, but the average asking rent for space in the area is about $25 per sf. According to Trammell Crow Co.'s most recent statistics, the area has a relatively low overall availability rate of just under 8%. Newton-based HRPT Properties Trust is a real estate investment trust that currently owns more than 27 million sf of commercial real estate throughout the country.
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