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Addition Hill Corporate Center | Marlboro, MA

Gillespie and Co., Inc., in partnership with Hall Investment Holdings, purchased a 500,000-square-foot, three-building office complex on 110 acres in Marlboro, MA. The seller was Lucent Technologies.

  • Purchase price: $27.5 million, one-third of replacement cost
  • Value-add opportunity for $25 million equity investor Greenfield Partners
  • Permits for another 500,000 square feet

The team spent $4 million on upgrades, including a new entry road.

Boston Scientific Corporation determined the site was the ideal location for its future headquarters and purchased the property for $43.5 million.

BACK TO PORTFOLIO LIST
IN PARTNERSHIP WITH
Hall Properties
Greenfield Partners, LLC

SIZE
500,000 square feet of office in three buildings
110 acres of land
500,000 of additional development permitted

SOLD TO
Boston Scientific

PRICE
$43,500,000

:: Gillespie and Co., Inc. ::