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Friday, May 18, 2012 Boston
KBS Real Estate Investment Trust purchased 825 University Ave., an office and research facility in Norwood, Mass., for $28.8 million in Dec. 2006. The sellers were Cabot, Cabot & Forbes of Boston and Commonfund Realty of Wilton, Conn. They were represented by Cushman & Wakefield's Capital Markets Group and used Real Capital Markets to market this transaction. The two-story structure includes 166,574 square feet on 18.81 acres located just south of Boston. The building is 100 percent leased in long-term agreements to two publicly traded tenants: Instron Corporation, a division of Fortune 500 giant Illinois Tool Works, and LTX Corporation. In late 2006, Cabot, Cabot & Forbes, a real estate developer, began a $1.55 billion endeavor to redevelop the University Ave. Industrial Park into a pedestrian friendly, transit-oriented multi-use complex. The plans call for the development of more than 4.5 million square feet of new space in three phases, including residential, office, open-air retail and potentially hotels. KBS Real Estate Investment Trust is a publicly offered, non-traded real estate investment trust. Address: 825 University Ave., Norwood, Mass. Size: 166,574 square feet Built: 1980 Filed Under: none E-mail this article to a friend | Printer friendly format| DIGG this| Post to del.icio.us Comments on this article
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