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SSR Sells 422,000-SF Campus for $39M

CONCORD, MA-SSR Realty Advisors sells 300 Baker Ave., a 422,202-sf corporate campus, to San Francisco-based Spear Street Capital for $39 million. The property consists of a 408,042-sf three-story office building and an adjacent single-story 14,160-sf warehouse/storage building.

By Naomi Grossman | Updated on October 26, 2004

CONCORD, MA-SSR Realty Advisors has sold 300 Baker Ave., a first-class 422,202-sf corporate campus located in the heart of Greater Boston’s suburban high-technology market. San Francisco-based Spear Street Capital acquired the property for $39 million.

The financial services group of Cushman & Wakefield–Robert E. Griffin Jr., Edward C. Maher Jr., Marci Griffith Loeber and Christopher T. Griffin–represented SSR and procured the buyer. “This transaction is a clear example of a regained feeling of confidence among institutional investors in what has historically been one of the single largest technology incubators in the country,” says Maher, executive director at Cushman. “This property provides the many key attributes required by today’s most demanding investors: marquee tenancy, upside through re-leasing, expandability and debt-free offering terms. There is just so much capital going after so few quality investments that demand is far outstripping the available supply.”

The campus is located approximately 20 miles northwest of Boston. The complex was originally designed and developed for GenRad Inc. in 1952 and expanded in phases through 1980. The property consists of a 408,042-sf three-story office building and an adjacent single-story 14,160-sf warehouse/storage building.

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