Gillespie and Co., Inc. and Hall Properties purchased the headquarters of GenRad Corporation for $6.25 million. It included:

• 408,000-square-foot office and R&D building built by GenRad in phases from 1951 to 1980
• 75 acres of land directly adjacent to highway Route 2
• Property completed renovated
• Lehman Brothers Holdings, Inc. was the equity partner

Lucent Technologies committed to 180,000 square feet. Premier tenants – including SolidWorks, Mitsubishi, OneSource, and EarthTech – occupied the building within a year.

The partnership sold the building to MetLife for $47.75 million.

After the sale, GCI and Hall Properties managed the permitting for MetLife of 200,000 square feet of additional development.