Search
 

$5M Buys Carruth Capital 49,900-SF Office

WOBURN, MA-Carruth Capital LLC adds a sister property to its acquisitions in the Bay State. It picks up Baldwin Park I in a $5.4-million transaction with Winstanley Enterprises.

By Beverly Ford | Updated on January 19, 2006

WOBURN, MA-Carruth Capital LLC has put down $5.4 million to take ownership of Baldwin Park I. The deal bought the real estate investment firm a sister property to Baldwin Park II, which it acquired 10 years ago.

David L. Pergola, with Meredith & Grew’s Boston office, tells GlobeSt.com that the 49,900-sf building drew six offers when it was put on the market several months ago. The building’s location in one of Boston’s prime suburban office markets along with its strong leasing activity generated the strong interest in the property, he says. “It’s an excellent building.” The three-story, brick faced, multi-tenant office building at 12 Alfred St. is 86% leased.

Situated on three acres of land, Baldwin Park I is located off Interstate 93 and Route 3 and adjacent to the 62,267-sf Baldwin Park II. The firm’s latest asset was acquired from Winstanley Enterprises Inc., a Concord-real estate development and investment firm which purchased the property in 1993 from New York Life Insurance Co. for $2.1 million, according to records on file with the Middlesex Registrar of Deeds.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

NOT FOR REPRINT

© 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.

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.