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| Greg Labine |
BOSTON, MA – HFF announced it has secured $10.4 million in
combined financing for 130 Lizotte Drive, a 100,000-square-foot office building
in Marlborough, Massachusetts, and 118 Turnpike Road, an 80,000-square-foot
office building in Southborough, Massachusetts.
Working on behalf of private investor CURO Enterprises, HFF placed the
loans with Blue Hills Bank. Loan
proceeds were used to acquire the properties.
Both loans were structured as floating-rate loans that were swapped to a
fixed-rate.
130
Lizotte Drive is located within the Lake Williams Corporate Center adjacent to
the Interstate 495/Route 20 interchange in Marlborough, about 25 miles west of
Boston.
The property was
completed in 1999 as a build-to-suit for its major tenant, Acosta, Inc., a
national full-service sales and marketing agency. Currently, the facility is 92 percent leased to Acosta and Career
Arc Group. Amenities at the property
include multiple conference facilities and shower facilities.
118
Turnpike Road is situated along Route 9 just under two miles from The
Massachusetts Turnpike/I-90 and about 25 miles west of Boston in
Southborough. The three-story property
was originally built in 1989 for its prior tenant, Autonomy Corporation, a
wholly-owned entity of Hewlett-Packard.
“These
acquisitions represent two of the three CURO acquisitions in the Interstate
495/Mass Pike corridor within the past year,” said LaBine. “Blue Hills Bank has been their finance partner
on all three deals, a shining example that relationships are still of paramount
importance within the banking community today.”
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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