CrossHarbor Sells Boston-Area Office Asset

A local investor has purchased the majority interest in the two-building office property.
10 & 20 Burlington Mall Road

CrossHarbor Capital Partners has sold its interest in 10 & 20 Mall Road in Burlington, Mass., to Battery Global Advisors. Following the transaction, RJ Kelly will remain the operating partner of the Class A office complex. Additionally, the property received a $37.8 million refinancing from Bank of America.

The two-building property encompasses 154,378 square feet. A recent $3 million renovation resulted in upgraded lobbies and common areas. The anchor tenants are Flexion Therapeutics, Infogroup and Construction Consulting Associates.

Located on 10 acres along the town’s primary road, the asset sits minutes away from eateries, cafes, retailers and entertainment options. A Marriott hotel is right across the street and Northeastern University Burlington Campus is 1.6 miles away. Route 128 and an MBTA bus stop are in close proximity.

A Newmark Knight Frank Capital Markets team comprising Vice Chairman Edward Maher, Executive Managing Directors Matthew Pullen and James Tribble and Director Samantha Hallowell brokered the partial sale. Last June, the company arranged the sale of a five-building property in Boston.