Publisher sells East Coast digs

Berwind Property Group recently completed the acquisition and partial leaseback of 35 Village Road, a class A office building in Middleton, Mass.

The value of the transaction was $18.9 million.

The seller and subsequent tenant is an affiliate of Verizon Information Services, publisher of a national yellow pages directory.

35 Village Road, which is now being renamed Ferncroft Corporate Center, is located just off the intersection of Route 1 and Interstate I-95, approximately 30 minutes north of Boston.

Constructed in 1990, the building is an eight-story structure consisting of 226,088 rentable square feet. The property features a flexible floor plate with 9-foot clear ceilings and offers amenities such as a full-service cafeteria and a 775-space parking garage.

The property was 57 percent occupied by Verizon Information Services at the time of sale.

CB Richard Ellis/Whittier Partners represented the seller and introduced the buyer in this transaction.

Berwind Property Group Ltd. is a Philadelphia-based, privately held real estate investment firm.

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