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Partnership Trio Secures $82M for Acquisition, Lab Redev of Bedford Office
Cushman & Wakefield has arranged an $82.2-million financing on behalf of an institutional joint venture partnership between Redgate, Optimum Asset Management and AEW Capital Management for the purchase and lab redevelopment of 14 Oak Park Drive in Bedford, MA. The loan was provided by Ares.
Tom Sullivan and Ross Fishman of Cushman & Wakefield represented new ownership in the procurement of financing for the 166,000-square-foot Class A office asset, which is being repositioned for lab and life science uses.
“The property offers best-in-class features demanded by today’s lab tenants including flexible floor plates, heavy floor loads, multiple loading docks, sufficient ceiling heights and ample parking as well as a fitness center, cafeteria and outdoor patio area,” said Sullivan.
The property is five minutes from Route 3 for access to the surrounding neighborhoods. The District, 3rd Avenue and Burlington Mall are all located within a 15-minute drive of the property.
- ◦Sale/Acquisition
