Behringer Harvard enters Boston office market

Buys space 18 miles north of downtown

Behringer Harvard on Tuesday announced its entry into the Boston market with its acquisition of Ferncroft Corporate Center, an eight-story, class A office building in Middleton, Mass. The value of the transaction was not disclosed. Situated on a 12.6-acre hilltop site overlooking the interchange of Interstate 95 (Route 128) and Route 1, Ferncroft Corporate Center provides 226,338 rentable square feet of space. An adjoining three-story parking garage supplies a generous parking ratio of 4.5 spaces per 1,000 square feet of office space. Originally constructed as a build-to-suit regional headquarters for Verizon Information Services in 1990, the office space was renovated in 1999. Amenities include a full-service cafe and fitness center. This 82 percent leased building represents the second purchase for Behringer Harvard Opportunity REIT I Inc. Anchor tenants at the time of sale included Verizon Information Services, a subsidiary of Verizon Communications, and the SAS Institute, a privat...