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| 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
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| 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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