CB Richard Ellis/New England today announced that Tea Light LLC has purchased the Sylvan Business Center in Danvers, Mass. The value of the transaction was $16.7 million. Applied Materials, a supplier of products and services to semiconductor industry, sold the property, which is located at 75 Sylvan St. The site houses a 280,000-square-foot office/R&D complex in three conjoined buildings, which was previously converted from a former Osram Sylvania manufacturing facility. It was originally constructed in 1941 and last renovated in 2001, according to a press statement. The new ownership team has plans for further changes to the complex. "Our goal is to create an environmentally responsible private campus," said Ann Goggin, principal of Tea Light LLC. "To that extent, 75 Sylvan Street w...
Get Inman via Facebook Messenger
Our top headlines delivered once a day.