Newmark Capital Markets has successfully completed the sale of Middlesex Marketplace in Burlington, Massachusetts to a private real estate fund advised by Crow Holdings Capital Partners-Real Estate (CHC-RE). Executive Managing Director Geoffrey Millerd, Managing Director Justin Smith, Associate Director Paul Penman and Financial Analyst Christopher Peterson of the Newmark Capital Markets Boston office, which is led by U.S. Head of Capital Markets, President, New England Area Robert Griffin, oversaw the transaction of the newly-constructed retail offering on behalf of a private seller.
Built in 2013 and totaling 38,243 square feet, Middlesex Marketplace features an exceptional food and service-oriented rent roll. The property is highlighted by a freestanding build-to-suit for Del Frisco’s Grille, the upscale-casual sister concept of the high-end Del Frisco’s Double Eagle Steak House. The asset also enjoys a strategic location along Middlesex Turnpike, a major retail corridor with an average daily traffic count of 37,400 vehicles.
“Middlesex Marketplace represents an exceptional property for CHC-RE as the firm continues its expansion into New England,” said Smith. “Most recently, the buyer acquired The Shops at Mall Road, a 31,623-square-foot retail asset located moments away from the subject property, in a transaction also orchestrated by our team.”
As one of suburban Boston’s most prolific office markets, Burlington serves as home to a thriving restaurant scene that is consistently targeted by traditionally urban dining concepts. With blue-chip employers including Aetna, Keurig Green Mountain, Lahey Hospital & Medical Center, Millipore Sigma, Nuance, Oracle and Veracode, Burlington boasts a daytime population of 94,500 people.
Newmark is one of the world’s leading commercial real estate advisory firms. Together with London-based partner Knight Frank and independently-owned offices, Newmark’s 15,000 professionals operate from more than 400 offices in established and emerging property markets on six continents.
With roots dating back to 1929, Newmark’s strong foundation makes it one of the most trusted names in commercial real estate. Newmark’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, corporate advisory services, consulting, project and development management, property and corporate facilities management services, valuation and advisory services, and capital markets services provided through its Newmark Capital Markets brand. For further information, visit www.ngkf.com.
Newmark 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 www.bgcpartners.com.