Brokerage Jones Lang LaSalle has negotiated the sale of Five Burlington Woods, a 103,973-square-foot office building in Burlington, Mass., the company announced Tuesday.
New Boston Fund Inc., a real estate investment, development and management firm, sold the asset to ELV Associates Inc.
At the time of sale, the property was 94 percent occupied, with about half of the building leased by Fay, Spofford & Thorndike, an engineering and planning firm. Other tenants include Hollister Associates and Linear Properties.
In 2001, New Boston acquired the property, which is located on Route 128, with funds from New Boston Fund V.
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