CRP Eyes Four Suburban Office Buildings

FRAMINGHAM, MA-Colony Realty Partners is negotiating to buy a quartet of office buildings here totaling nearly 400,000 sf, industry sources are telling GlobeSt.com. CRP’s targets include the landmark Framingham Corporate Center and the Meadows, a 120,000-sf first class property fronting Route 9. The would-be seller is Maric Inc., a Needham-based real estate investment firm sporting a lengthy track record in Massachusetts.

“They are going to buy it,” one broker aware of the discussions insists of CRP. The firm also reportedly would acquire 125 Newbury St. and 959 Concord St. as part of the package. Given the uncertain capital climate and wispy economy, observers caution that no deal is immune from late-stage dissolution, but most spoken to said they will be surprised if the sale to CRP does not cross the finish line. “It’s getting really, really close,” says one broker.

At this point, the parties involved have yet to acknowledge the deal, with calls not returned from CRP’s Boston office or from Maric principal Mark Rubin. Eastdil Secured’s New England investment group is said to be handling the sales process, but members of that team also did not respond by press deadline. Sources could not provide a sales price for the package or a projected closing date.