Brigham Business Park in Marlborough sold
The Brigham Business Park in Marlborough has been sold for $14.5 million, according to commercial real estate firm Avison Young.
The sale of the three-building industrial and flex space park was announced Thursday. First Colony Development sold the park to an affiliate of Ivy Realty, a Greenwich, Conn.-based company.
The park is made up of 169,230 square feet of office, research and development, industrial, warehouse distribution and manufacturing space, according to Avison Young which is headquartered in Toronto, Canada and brokered the deal while representing First Colony Development. The park currently houses 31 tenants, including AT&T, Carquest Auto Parts, Fastenal Co. and Amrbi, Inc.
“The park generated a lot of interest, given its diverse mix of high-quality credit tenants and low vacancy,” Avison Young’s Michael Smith said. “The Greater Boston industrial and flex market has been a primary beneficiary of the surging economy in Massachusetts and has shown great strength in 2014.”
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