K&L Realty picked up the 10 State St. property from an undisclosed seller. Records on file with the Middlesex County Registry of Deeds lists the seller as Atlantic Woburn Delaware II Realty LLC, which acquired the property in December 2000 for $3.5 million. The seller is an affiliate of Atlantic Management, which has a number of retail, office, industrial and residential holdings throughout Massachusetts and New Hampshire. The firm also developed Wayside Commons, a retail lifestyle center in Burlington and the 96.5-acre Lexington Technology Park in Lexington, which formerly served as the world headquarters for Raytheon Corp.

Built in 1985, 10 State St. is set on 3.8 acres at the highest point in an established business park adjacent to Route 128 and Interstate 95 just 12 miles north of Boston.The two-story red brick and glass office property is more than 72% occupied by tenants that include the travel management company, Travizon, Inc., the Technology Training Group, Covalent Associates, which develops ionic liquid materials, and the engineering firm, Stevenson & Associates.

The seller was represented in the transaction by Robert E. Griffin, Jr., Christopher T. Griffin and Richard E. Putprush, all with Cushman & Wakefield's Capital Markets Group in Boston.