NGKF Capital Markets today announced the sale of 5 Omni Way in Chelmsford, Massachusetts to a private New York-based investment firm for $32.5 million. The NGKF Capital Markets team in Boston, led by U.S. Head of Capital Markets Robert Griffin, Vice Chairman Edward Maher and Executive Managing Director Matthew Pullen, oversaw the transaction of the 131,430-square-foot asset on behalf of Griffith Properties/Echo Bridge Partners.
Griffith Properties/Echo Bridge Partners recently completed a $15+ million redevelopment and renovate-to-suit project that transformed 5 Omni Way into a first-class office facility. The property will serve as a key regional call center and executive hub for Comcast with 24/7/365 operations and full call center backup redundancy.
“5 Omni Way is strategically situated immediately adjacent to Route 129 in the thriving Route 3 corridor, Burlington’s fast-growing relief valve,” said Pullen. “Combined with its first-class tenancy, this premier location solidifies 5 Omni Way’s status as a highly desirable asset.”
A magnet for companies across a variety of industries, 5 Omni Way’s surrounding neighborhood boasts a long history of technology and innovation. The area is notable for its swift connections to regional highway systems, affluent residential communities and highly-educated employment pools.
About Newmark Grubb Knight Frank
Newmark Grubb Knight Frank is one of the world’s leading commercial real estate advisory firms. Together with London-based partner Knight Frank and independently-owned offices, NGKF’s 12,800 professionals operate from more than 370 offices in established and emerging property markets on six continents.
With roots dating back to 1929, NGKF’s strong foundation makes it one of the most trusted names in commercial real estate. NGKF’s full-service platform comprises BGC’s real estate services segment, offering commercial real estate tenants, landlords, investors and developers a wide range of services including leasing; capital markets services, including investment sales, debt placement, appraisal, and valuation services; commercial mortgage brokerage services; as well as corporate advisory services, consulting, project and development management, and property and corporate facilities management services. For further information, visit www.ngkf.com.
NGKF is a part of BGC Partners, Inc., a leading global brokerage company servicing the financial and real estate markets. BGC’s common stock trades on the NASDAQ Global Select Market under the ticker symbol (NASDAQ: BGCP). BGC also has an outstanding bond issuance of Senior Notes due June 15, 2042, which trade on the New York Stock Exchange under the symbol (NYSE: BGCA). BGC Partners is led by Chairman and Chief Executive Officer Howard W. Lutnick. For more information, please visit http://www.bgcpartners.com/.