Data center sold to Calif. investment firm for $33.3M
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34 St. Martin Drive is located on the Southborough and Marlborough line.
A 204,000-square-foot warehouse in Southborough and Marlborough has sold to a California investment firm for nearly $33.3 million.
The property, at 34 St. Martin Drive, primarily functions as a data center by St. Louis IT firm TierPoint. The firm did not immediately return comment, but the center is still listed on the company’s website.
Menlo Equities, based in Menlo Park, Calif., was the buyer, and Dallas-based Lincoln Property Co. was the seller, according to land records and Massachusetts business filings.
Menlo Equities currently does not have any New England properties listed on its online portfolio.
The sale price represents a 70% premium on the 2016 sale price of $19.5 million to Lincoln Property Co. and a 108% premium on the property’s assessed value of $16 million.
WBJ Web Partners
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