TDC and Principal Acquire Burlington Centre

| October 17, 2013 | 0 Comments

Burlington, MA – The Davis Companies (TDC)  announced the acquisition, on behalf of one of its affiliated funds, of Burlington Centre, a 47-acre, master- planned Class A office campus consisting of four buildings and a site for future development in Burlington, Massachusetts.

TDC acquired the property for $109 million in a joint venture with Principal Real Estate Investors, one of the largest institutional real estate managers in the United States. Burlington Centre will undergo a dramatic capital improvement and repositioning program that will transform the park into a cohesive, connected campus. The joint venture will bring hands-on, local ownership and management, with a renewed value-add plan for the property. The 486,719sf park is currently 77% leased.

The joint venture is planning an extensive and exciting property repositioning that will bring significantly upgraded amenities to the campus, including indoor/outdoor collaboration areas, high-end food service and fitness facilities. The firm has retained CBRE/New England as exclusive leasing agent and engaged CBT Architects as the architect of record for implementing the capital improvement and repositioning strategies.

Burlington Centre consists of four buildings. Three have a USGBC LEED® Certification.

 

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Category: Corporate, Real Estate

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