Berkeley Partners, an Oakland-based real estate investment firm already with a presence in Marlborough, has increased its footprint in the city with the $10-million purchase of a 45,829-square-foot flex building.
Berkeley Partners purchased the property at 362 Elm St. in a deal finalized on May 11, according to the Middlesex South Registry of Deeds. The property was purchased from Legacy Real Estate Ventures of Boston.
Built in 2008, the building has 10 docks and two drive-in bays, according to real estate data firm CoStar. Tenants at the site include medical equipment manufacturer BTL Industries and air compressor supplier Ingersoll Rand.
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Berkeley Partners’ purchase equals about $219 per square foot.
The Elm Street purchase builds on Berkeley Partners’ presence in Marlborough, as the firm already owns the Brigham Business Park at 53 Brigham St., an industrial property at 111 Hayes Memorial Dr., and a flex site at 734 Forest St.
Elsewhere in Central Massachusetts, the company owns sites in Milford and Franklin, among more than 130 other properties across the country.
Legacy Real Estate Ventures originally purchased 362 Elm St. for $6 million in August 2017.
Texas-based CBRE brokered the sale of the site to Berkeley Partners.
The 4.8-acre site received a 2026 assessment of $6.63 million, according to City of Marlborough property records.
Eric Casey is the managing editor at Worcester Business Journal, who primarily covers the real estate and banking & finance industries.
