Marlborough office building sold for $11.8M
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130 Lizotte Dr. in Marlborough
A New Jersey-based real estate investment firm has purchased a Marlborough office building for $11.75 million.
Deed records indicate that Curo Marlborough LLC, affiliated with Steven Cox of Curo Enterprises, bought the building at 130 Lizotte Dr. on April 25 from The Realty Associates Fund VII LP, an affiliate of TA Associates Realty.
The four-story, 79,568-square-foot building is currently 93 percent occupied, according to Dan Foley, a spokesman with Transwestern RBJ, which represented the seller, procured the buyer and will serve as exclusive leasing agent.
Tenants in the Class A office building include Acosta Sales & Marketing and CareerArc Group, which connects employers with job seekers. No major renovations are planned, Foley said.
The building was constructed in 1999 and has undergone common area and lobby renovations since then, according to Transwestern RBJ. TA Associates purchased 130 Lizotte – part of the Lake Williams Corporate Center – in March 2006 for $18.75 million.
Curo has been active recently in MetroWest, spending some $16 million to buy more than 160,000 square feet of office space late at 118 and 120 Turnpike Rd. in Southborough. TA Associates was the seller for 120 Turnpike Rd.
Cox said at the time he was looking to expand his presence in the Greater Boston area due to the strength of the market.
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