JV Takes Boston-Area Properties for $28M
- Sep 29, 2008
Taurus Investment Holdings L.L.C. and DivcoWest have acquired two properties in North Reading, Mass., from Teradyne Inc., for $27.5 million. CB Richard Ellis Inc. of New England arranged the transaction.The properties are two separate buildings in the Riverpark Office Park in the Boston suburb, located in Middlesex County. Riverpark is a one-million square-foot property with a total of seven buildings.One of the two buildings purchased is a 150,000 square-foot office building. The other is a 200,000 square-foot light industrial research and development facility.As part of the deal, Teradyne has arranged to lease back 50,000 square feet for five years. Teradyne’s corporate headquarters is also located in the Riverpark complex.DivcoWest is planning to continue to expand into the New England area in the future. This purchase is its sixth acquisition in the area. CB Richard Ellis/New England arranged another recent transaction in Middlesex County for Taurus Investment Holdings. Taurus announced the acquisition in mid-July of a 75,500 square-foot building on 13.1 acres in Billerica, Mass.