Joint venture lands Massachusetts office campus
Suburban property more than one-third vacant at closing
By Inman News, Monday, October 4, 2004.Inman News®
The Praedium Group and Essex River Ventures jointly acquired the 283,000-square-foot Lexington Corporate Center in Lexington, Mass.
The value of the transaction was approximately $35 million.
Lexington Corporate Center, located at 10 Maguire Road is comprised of four buildings.
Occupancy at the time of sale was 65 percent.
Trammell Crow Co. brokered the deal on behalf of the sellers, whose identities were not disclosed.
The Praedium Group is a New York City-based national real estate investment firm. Essex River Ventures is a Boston-based real estate investment and asset management firm.
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