Avison Young brokers sale of 101,834 square foot building and 11-acre land site in Marlborough, MA20 Jul 2020
Boston, MA – Avison Young announced today it has negotiated the sale of 90 Crowley Drive, an 11-acre land site, and 100 Crowley Drive, a 101,834 square-foot (sf) class A office building, in Marlborough, MA.
Vice President Brandon Dickason, Principal Scott Jamieson, Senior Vice President Bill Sullivan and Vice President Jon Pezzoni, based in the firm’s Boston office, represented the seller, First Colony Development, which sold the building for $16.5 million to Commonwealth Management. Sullivan and Pezzoni also represented First Colony Development in the $4.5 million sale of the 90 Crowley Drive land site to buyer Cameron General Contractors.
“100 Crowley represents one of the premier class A office buildings in the Metro West Office Market,” comments Dickason. “First Colony Development spared no expense in its construction making it an attractive setting for tenants. Currently the building is 93 percent leased with quality long-term tenants and represents a secure investment opportunity for the buyer. We are very pleased with Commonwealth Management’s commitment and execution of the deal from beginning to end.”
Located just off Interstate 495 (I-495), 100 Crowley Drive provides immediate access to both I-495 and I-290 via the Route 85 Connector. Major tenants include Allegro Microsystems and Boston Biomedical Associates.
“It was great to work with the buyer Cameron General Contractors and seller First Colony Development on this transaction,” says Pezzoni. “From the start we were eager to work through the zoning and development requirements and bring this to fruition. We were happy to see our client achieve a great transaction. Truly a win-win for both parties.”
• Brandon Dickason, Vice President, Avison Young: 617.575.2832
• Scott Jamieson, Principal, Avison Young: 617.575.2831
• Bill Sullivan, Senior Vice President, Avison Young: 617.758.8276
• Jon Pezzoni, Vice President, Avison Young: 617.758.8742