KS Partners Buys Building from New Boston Fund

KS Partners announced this month that is had successfully acquired 33 Boston Post Road in Marlborough, MA for $8.15 million from New Boston Fund according to a Boston Business Journal article. The purchase price reflects a value of $72 per square foot on the 6-story, 113,050 foot office buiding. Avidia Bank, a community bank based in Hudson MA, provided the acquisition financing and a funding facility for future capital improvements & leasing costs. The property was last purchased in 2000 for $12 million.

33 Boston Post Road , at the intersection of Boston Post Road and Northboro Road just west of the intersection of Route 495 and Route 20, was constructed in 1986 and caters to small to medium-sized tenants. The property is supported by strong retail, restaurant and hotel amenities, along with on-site amenities including a cafe and fitness center. The property also includes two annex buildings totaling 6,702 square feet. The building is currently 70% leased with major tenants including ECC, BayPath, Forefield and the Law Offices of Gary H. Kreppel.

"What we're seeing in the market is small-tenant growth," said Richard M. Griffin, senior vice president and director of investments at KS Partners. Most are companies already in the market that "are in need of expansion space," he said.

For more news and information visit Blumberg Capital Partners.