Cushman & Wakefield is pleased to announce that it has represented Normandy Real Estate Partners, a leading, privately owned real estate operator and investment manager, in its sale of Marlborough Technology Park, a portfolio comprised of seven expertly maintained buildings in Marlborough, MA. KS Partners, a commercial real estate owner and property management company, acquired the 57-acre campus for $46 million.
Peter Joseph, Vice Chair; Brian Barnett, Managing Director; and Steffen Panzone, Managing Director, of Cushman & Wakefield represented Normandy Real Estate Partners in this transaction.
Marlborough Technology Park is comprised of 586,266 square feet of office space conveniently located along Nickerson Road in Marlborough, one mile west of Interstate 495 and Route 20 via exit 24 and Simarano Drive. The park offers unrivaled amenities, including a full-service cafeteria and multi-media lounge, a state-of-the-art fitness center complete with full-service locker rooms, accommodating multi-room conference facilities and property management, all of which are located in Building 200. Its outdoor features include volleyball and basketball courts as well as a 3.7/1,000 ratio of parking spaces.
“We were thrilled to facilitate the sale of Marlborough Technology Park on behalf of Normandy Real Estate Partners,” said Joseph. “It is an incredible facility that promises to attract a number of tenants in the future.”
About KS Partners LLC
KS Partners LLC is a commercial real estate owner and property management company which owns and manages income producing real estate assets in the Northeast. The KS Partners portfolio strives for value appreciation through the capitalization of improved leasing, repositioning or redevelopment opportunities. For more information, please visit www.kspartnersllc.com.
About Normandy Real Estate Partners
Normandy Real Estate Partners is a leading real estate investment management firm and operator with offices in New York City, Boston, Washington, D.C. and New Jersey with a track record spanning 20 years. The firm is a vertically-integrated investment and operating platform with a total of 120 employees with broad real estate experience in areas such as acquisitions, investment management, leasing, property management, construction/development and accounting. Our focus is primarily on acquiring office and mixed-use investments located in the Northeast and Mid-Atlantic CBD and transit-oriented submarkets where we own and operate one of the largest private real estate portfolios in the region totaling over 14 million square feet and a development pipeline of four million square feet. Our deep local relationships, vertically-integrated capabilities, and diversely-experienced team give us a distinct advantage, which enables us to consistently turn under-achieving real estate into exceptional high-yielding investments.
Normandy’s management platform is focused on two complementary investment strategies: i) value-add: a series of closed-end, fully-discretionary investment funds, backed by some of the world’s most prestigious institutional investors; and ii) core-plus: a series of separately-managed accounts for domestic and foreign institutional investors. Normandy currently manages approximately $1.5 billion of equity capital, representing total asset value of $3.3 billion. For more information visit www.normandyrealty.com.
About Cushman & Wakefield
Cushman & Wakefield is a leading global real estate services firm that helps clients transform the way people work, shop, and live. Our 45,000 employees in more than 70 countries help occupiers and investors optimize the value of their real estate by combining our global perspective and deep local knowledge with an impressive platform of real estate solutions. Cushman & Wakefield is among the largest commercial real estate services firms with revenue of $6 billion across core services of agency leasing, asset services, capital markets, facility services (C&W Services), global occupier services, investment & asset management (DTZ Investors), project & development services, tenant representation, and valuation & advisory. 2017 marks the 100-year anniversary of the Cushman & Wakefield brand. 100 years of taking our clients’ ideas and putting them into action. To learn more, visit www.cushwakecentennial.com, www.cushmanwakefield.com or follow @CushWake on Twitter.