In Record Deal, $210M Moves Sun Campus

BURLINGTON, MA-In what would be fiscally and physically among suburban Boston’s largest commercial real estate sales ever, the abutter to the Sun Microsystems campus at One Network Dr. has agreed to acquire the 158-acre property, according to industry sources. By some estimates, the seven-building, 805,000-sf complex could trade for more than $210 million in a strategy one observer calls “extremely logical.”

“It makes all the sense in the world,” says the industry professional, who bolstered another source professing to be “very, very sure” that the owners of Northwest Park and an unnamed capital partner have beaten off a bevy of eager capital rushing up Route 128 in concert with the regional economic recovery. “They are the buyers,” the source tells GlobeSt.com, with that source and others maintaining the owners might have been able to pay more given their proximity to the asset, allowing for greater operational efficiencies.

The family that launched Northwest Park a half-century ago, making it one of suburban Boston’s first office projects, has a real estate legacy dating to the 1920s. Members of the Nordblom clan broke off a separate investment entity in 1994 called Nordic Properties. Ogden Hunnewell, Nordic’s president, did not respond to calls regarding the potential purchase of One Network Dr., while the brokerage team involved in the deal, Jones Lang LaSalle, declined comment on the status through a spokesman.