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Boston & New England  + Metro Boston  + Net Lease  | 
Newmark has finalized $14.3 million sale a government-leased office building in Burlington, MA.

Newmark Completes $14M Sale of Government Net Leased Office in Burlington

Newmark has finalized $14.3 million sale of 328-330 Cambridge Street, a government-leased office building located in Burlington, MA, to a private 1031 exchange buyer.

Newmark’s Robert Griffin, Michael Greeley, Joseph Alvarado, George Demoulas and Casey Valente represented the developer/seller and procured the 1031 buyer. Andy Gallas and Gino Tabbi provided support on the transaction as well.

The 2020-completed property is a single-story, 21,000-square-foot asset that was designed and constructed specifically to accommodate its sole tenant, the Commonwealth of Massachusetts’ Department of Children and Families.

“328-330 Cambridge Street presented an extremely rare opportunity to acquire a government-leased asset that features a true net lease structure,” said Valente. “The property was built-to-suit as a mission-critical location for DCF.” The building is situated adjacent to an MBTA bus stop and features 72 on-site parking spaces. The asset is positioned along Route 3A and less than five miles from the junction of Interstate 95 and Route 3.

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Inside The Story

Newmark’s Valente

About Lisa McDuffie

Lisa McDuffie arrives at ConnectCRE via REALTOR® world, where she served for nearly two decades as communications director for one of the nation’s largest REALTOR® organizations. She supported two membership-elected presidents who were commercial real estate practitioners, and managed the communications initiatives of the organization’s commercial special interest group. When not following the latest commercial real estate news, Lisa is zeroed in on her charismatic off-the-track thoroughbred as she makes the transition from an utterly failed racehorse to a lovely show hunter.

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