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Keurig Dr. Pepper Campus Trades for $85M in Burlington
Newmark arranged the $84.5-million sale of 53 & 63 South Ave., a two-building, 431,233-square-foot office and R&D/manufacturing campus occupied by Keurig Dr Pepper in Burlington, MA. A Newmark team of Robert Griffin, Edward Maher, Matthew Pullen, James Tribble, Samantha Hallowell and William Sleeper represented the seller, Peakstone Realty Trust, and procured the buyer, Montana Avenue Capital Partners.
The Newmark Boston Debt & Structured Finance team of David Douvadjian, Sr., Timothy O’Donnell, David Douvadjian, Jr., Bobby Alvarado and Conor Reenstierna arranged acquisition financing on behalf of the buyer.
“53 & 63 South Ave. are among the marquee office and advanced R&D/manufacturing assets in the market,” said Tribble. “Both buildings were initially built-to-suit for Keurig Dr Pepper’s predecessor in 2014 and will continue to host the headquarters of its coffee business, which is slated to become a standalone company following its planned split into separate coffee and refreshment beverage giants.”
- ◦Sale/Acquisition
