Home > Press Releases > RBJ Brokers Sale Of One Radcliff Road, Tewksbury, Mass.

RBJ Brokers Sale Of One Radcliff Road, Tewksbury, Mass.

October 15, 2013 Leave a comment Go to comments

ACG Equities Purchases 140,000 Square Foot Office/R&D Building

BOSTON – October 15, 2013 – Richards Barry Joyce & Partners, LLC (RBJ&P), a full-service commercial real estate advisory firm, announced today that it brokered the sale of One Radcliff Rd., in Tewksbury, Mass.

ACG Equities purchased the two-story office/R&D building. The building consists of 140,000 square feet of space. ACG Equities plans on making significant capital investments in the property, including extensive renovations to the building entry and lobby, improvements to the landscaping and additional parking.

One Radcliff is situated on more than 16 acres of land in a mature park setting. Frontage on Interstate-495 provides high visibility for prospective tenants, as well as easy access to the highway. Nearby amenities include restaurants, hotels, and conference centers.

Chris Skeffington, Senior Vice President

Chris Skeffington, Senior Vice President

“This is an excellent acquisition for ACG Equities, given their focus on enhancing and repositioning underperforming and vacant assets,” said Chris Skeffington, senior vice president, Richards Barry Joyce & Partners. “In addition to the planned capital investments, ownership is also well funded for providing improvement dollars for prospective tenants.”

“We anticipate One Radcliff becoming one of the top buildings in the market.” said Steven Cox, ACG Equities Regional Partner.

Chris Skeffington, John Wilson, Roy Sandeman, Brian McKenzie and James Lipscomb of Richards Barry Joyce & Partners represented the buildings’ seller and procured the buyer in the transaction. ACG Equities has retained RBJ&P as exclusive leasing agent for One Radcliff Rd.

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 22.9 percent, as of the quarter ended September 30, 2013. (source: Richards Barry Joyce & Partners’ “officeSTATus – Fall 2013)

About ACG Equities
ACG Equities is a commercial real estate investment and operating company focused on distressed and value add opportunities. ACG has completed investments in the Midwest, South East and North East. The group is comprised of Managing Partners and Regional Partners supported by a centralized Operating Platform Team in Chicago. Deal flow is enhanced by the presence of Regional Partners in various markets all of whom have acquisition and operating backgrounds.

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.

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Editor’s Note: On September 9, 2013, Houston-based Transwestern announced the acquisition of Richards Barry Joyce & Partners. Richards Barry Joyce & Partners will begin operating as Transwestern RBJ on November 1, 2013.

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