The two-story building, which is fully leased to high-tech work force solutions provider Kronos Inc. under a long-term lease through June 2012, is NPV/Direct Invest's fourth buy in the 30-plus building, 1.5-million-sf, master-planned business park in the last two years. All four buildings are located in the business park's Omni sub-park.
Chris Griffin, with Cushman & Wakefield's Capital Markets team, tells GlobeSt.com that competition was stiff for the Omni Way property.
"The asset garnered interest from both institutional and private investors," he says. It was NPV/Direct Invest's reputation as a deal closer and the firm's demonstrated ability with its three prior purchases that helped the Boston buyer.
Robert Griffin, president of Cushman & Wakefield's New England region, which represented the seller and procured the buyer in the transaction, called the firm's latest purchase "a highly valued investment" because of its quality construction and long-term, credit worthy tenant.
"The sale of 2 Omni Way offered superb pricing for Carruth and provided NPV with an excellent match for its investment program," Griffin says in a statement.
Both Chris and Robert Griffin as well as Marci Griffith Loeber and Richard Putprush, worked on the transaction.
In December, NPV/Direct Invest acquired 4 Omni Way, a two-story, 81,780-sf office and R&D facility set on 7.8 acres, and its slightly smaller twin, a two-story, 51,300-sf facility on 4.6 acres at 6 Omni Way. The firm picked up its first Chelmsford property in 2005 when it acquired 5 Omni Way in the same business park.
Officials from NPV/Direct Invest did not return calls to the firm's Boston office by GlobeSt.com.
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