Stan Johnson Company Completes $26M Sale of Class-A Office in Boston, MA
New York, NY—July 13, 2016—In a deal that highlights increased investor demand for Class-A Office buildings in first-tier markets, Stan Johnson Company has completed the $26 million sale of a free-standing 169,000-square-foot office building located at 825 University Avenue in Norwood, Mass. The fully occupied two-story facility is the corporate headquarters for Xcerra (NASDAQ: XCRA) and operates as Illinois Tool Works’ (NYSE: ITW, S&P A+) R&D production space.
The Class-A office building is situated in one of the most sought-after emerging Boston submarkets. Located near the Route 128 Amtrak Station, 825 University Avenue is accessible to Route 1, I-95/Route 128, and I-93, providing easy access to downtown Boston and the area’s major population centers. The facility is adjacent to University Station, a 2-million-square-foot mixed-use development anchored by Target and Wegmans.
“National interest in this transaction was high and very competitive,” said Camille Renshaw, Senior Director of Stan Johnson Company’s New York City office. “The buyer pool extended beyond the usual suspects and included multiple 1031 exchangers, large institutions, and international funds.”
About Stan Johnson Company:
Stan Johnson Company is one of the nation’s leading commercial real estate brokerage and advisory firms that focuses exclusively on net lease transactions involving retail, office, industrial, healthcare and sale-leaseback properties. The firm provides acquisition, disposition, capital markets and advisory services for institutions, developers, investment funds and private investors across the United States. Now in its fourth decade of serving as a trusted advisor to its valued clients, Stan Johnson Company has completed more than $30 billion in transactions nationwide and is regarded as the Net Lease Authority®. To learn more about Stan Johnson Company, please visit the recently enhanced website at www.stanjohnsonco.com.