Boston investment firm pays $16.7M for Marlborough office
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123 Felton St. in Marlborough
Novaya, a Boston real estate firm, has again turned to Marlborough for its investment portfolio, this time paying $16.7 million for an office building on Felton Street.
Novaya bought 123 Felton St., a 78,000-square foot office building that has been expanded since Doble Engineering moved its headquarters there from Watertown within the past year. The single-story brick building sits a short distance off Route 20 near its interchange with I-495.
Novaya bought the building from another Boston firm, KG Capital LLC, which is registered to Paul Grant, John McLaughlin and William Kouchalakos.
Doble said last year it was moving to Marlborough from Watertown because the site allowed it to have all employees under one roof, and for the easy access of its location and flexibility for lab, research and development and other uses. Doble, a 100-year-old company, is part of the Utility Solutions Group of ESCO Technologies Inc., a publicly traded company based in St. Louis.
Novaya also owns 313 Boston Post Road in Marlborough, and previously owned office buildings at 397 Williams St., 261 Cedar Hill St. and 753 Forest St.
The office site at 123 Felton St. was last assessed by the City of Marlborough at $5 million. It last sold in 2016 for $3.7 million.
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