Lexington Corporate Center Sells for $35M

LEXINGTON, MA-Nordic Properties and Berwind Property Group sold Lexington Corporate Center to Essex River Ventures for $35.3 million. The property totals 285,000 sf and is situated on 20 acres.

Trammel Crow served as the broker for the deal. The center is located at 10 Maguire Rd., directly off the Route 4/225 exit from Route 128/ Route 95 and immediately adjacent to the Minuteman bike path and Hanscom Airfield. Its tenant roster includes IBM/Rational, SGS Thomson, Marketsoft and AHA Associates.

The property was originally built by Itek Co. in the late 1960′s to design and build optical equipment for the US government and private contracts. After being acquired by Litton Industries, the ongoing business was relocated to other facilities. The original buildings totaled almost 400,000 sf including a 30-foot high stainless steel chamber built to test equipment in a simulated weightless environment of outer space.