Tuesday, September 10, 2013

HFF secures $49 million first mortgage financing for office complex in Concord, MA


Concord Meadows Corporate Center, 300 Baker Avenue, Concord, MA


BOSTON, MA – HFF announced today that it has arranged $49 million in first mortgage financing for the Concord Meadows Corporate Center located at 300 Baker Avenue in Concord, Massachusetts, a 424,815-square-foot office complex

Riaz A. Cassam

               HFF worked on behalf of the borrower, Normandy Real Estate Partners, to secure the floating-rate loan through Natixis Real Estate Capital LLC. 

               300 Baker Avenue is situated on a 70-acre site in Concord, close to Route 128 and about 20 miles northwest of downtown Boston.

 The property underwent a complete renovation in 1998 and has benefited from significant on-going capital improvements since Normandy’s purchase in 2006. 

The tenant roster is anchored by Emerson Hospital with 80,785 square feet, Welch’s with 79,695 square feet and Kayak with 29,381 square feet. 

Recently negotiated expansions and extensions by Emerson and Oxford Instruments, along with recently signed leases with Welch’s, Lexington Eye Associates and several other smaller tenants, have substantially filled the 214,000-square-foot space vacated by Dassault Systemes/SolidWorks in 2012. 

The property is currently 78 percent leased and the loan provides the additional funds required to lease the balance of the building.            

               The HFF team representing Normandy Real Estate Partners was led by senior managing director Riaz Cassum, director Porter Terry and real estate analyst Samantha Bendetson.


 For a complete copy of the company’s news release, please contact:

Kristen M. Murphy
Associate Director
HFF | One Post Office Square, Suite 3500 | Boston, MA 02109
Main: 617-338-0990 | Direct: 617-848-1572 | Cell: 617-543-4873 | www.hfflp.com


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