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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