Home > Press Releases > RBJ’s Capital Markets Team Brokers Two Building Sales Totaling $15.8 Million — 15 Shattuck Road in Andover, 5 Omni Way in Chelmsford

RBJ’s Capital Markets Team Brokers Two Building Sales Totaling $15.8 Million — 15 Shattuck Road in Andover, 5 Omni Way in Chelmsford

RBJ Capital Markets Team Active In I-495 North Market With Deals In Andover And Chelmsford

BOSTON – April 10, 2013 – Richards Barry Joyce & Partners, LLC (RBJ&P), a full-service commercial real estate advisory firm, announced today that its Capital Markets team brokered two building sales totaling $15.8 million – 15 Shattuck Road in Andover, Mass. (92,700 SF; $12.0 million) and 5 Omni Way in Chelmsford, Mass. (131,000 SF; $3.8 million).

“The year is off to a solid start with capital markets activity across Greater Boston, and we’re looking forward to it continuing,” said Chris Skeffington, senior vice president, Richards Barry Joyce & Partners.  “We were particularly energized by these two sales in the I-495 North submarket.  Even though they are in the same area, they were very different processes, requiring different approaches.”

Chris Skeffington, Senior Vice President

Chris Skeffington, Senior Vice President

In both transactions, the seller was represented by Chris Skeffington and Roy Sandeman of Richards Barry Joyce & Partners’ Capital Markets group, along with brokers John Wilson, Brian McKenzie and James Lipscomb.

Details of the transactions include:

15 Shattuck Road, Andover, Mass. – RBJ acted as the exclusive sales agent for Winthrop Realty Trust (NYSE: FUR), selling the 92,700 square foot building to Carter Validus Mission Critical REIT, Inc. for $12.0 million.  The two-story building is a data center facility fully occupied by Windstream Corp. (NASDAQ: WIN).  Windstream is a leading provider of advanced network communications, including cloud computing and managed services, to businesses nationwide.

5 Omni Way, Chelmsford, Mass. – A joint venture of Griffith Properties and Echo Bridge Partners purchased this 131,000 square foot building for $3.8 million, with RBJ acting as exclusive agent on behalf of the seller.  The two-story office/flex building is currently undergoing extensive renovations.  The building will soon feature a distinctive, two-story glass atrium lobby, as well as modern façade upgrades, including an enhanced window line and significantly improved daylighting.  A new landscaping plan will maximize the property’s visibility and enrich its appearance.

5 Omni Way, Chelmsford

5 Omni Way, Chelmsford

The new ownership has retained Richards Barry Joyce & Partners as the exclusive leasing agent for the building.  The RBJ team has already initiated a marketing campaign for the building, alerting prospective tenants that 5 Omni Way is now “Open To Business”.

“With new, stable ownership and a comprehensive renovation plan underway, we have already begun fielding significant interest in 5 Omni Way,” said Brian McKenzie, partner, Richards Barry Joyce & Partners.  “The building has a rich history of being home to world-class tenants and we see that trend resuming in the near term.”

About the Market – I-495 North Market
According to research from Richards Barry Joyce & Partners, the I-495 North office market consists of 15,092,000 square feet of office space, with a vacancy rate of 23.6 percent, as of the quarter ended March 31, 2013. (source: Richards Barry Joyce & Partners’ “officeSTATus – Spring 2013)

About Richards Barry Joyce & Partners, LLC
Richards Barry Joyce & Partners is a full service commercial real estate firm providing creative solutions for its client partners. The company’s focused team approach offers clients a competitive advantage in solving their local, national, and international real estate challenges. Richards Barry Joyce & Partners’ unique platform offers a full range of real estate advisory services including market analysis, capital markets solutions, financial analysis, corporate services, portfolio review, and consulting services.  For more information, please visit our website at www.rbjrealestate.com. Follow us on Twitter at @RBJ_Partners.

Categories: Press Releases
  1. April 12, 2013 at 11:54 am

    Trilogy Law LLC congratulates our client, a joint venture of Griffith Properties and Echo Bridge Partners, on the acquisition of 5 Omni Way, Chelmsford and thanks RBJ for a great job.

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