Boston— NKF Capital Markets has completed the sale of Middlesex Marketplace in Burlington, MA to a private real estate fund advised by Crow Holdings Capital Partners-Real Estate (CHC-RE).
Executive Managing Director Geoffrey Millerd, Managing Director Justin Smith, Associate Director Paul Penman and Financial Analyst Christopher Peterson of the NKF Capital Markets Boston office, which is led by U.S. Head of Capital Markets Robert Griffin, oversaw the transaction of the newly-constructed retail offering on behalf of a private seller.
Built in 2013 and totaling 38,243 square feet, Middlesex Marketplace features an exceptional food and service-oriented rent roll. The property is highlighted by a freestanding build-to-suit for Del Frisco’s Grille, the upscale-casual sister concept of the high-end Del Frisco’s Double Eagle Steak House. The asset also enjoys a strategic location along Middlesex Turnpike, a major retail corridor with an average daily traffic count of 37,400 vehicles.
“Middlesex Marketplace represents an exceptional property for CHC-RE as the firm continues its expansion into New England,” said Smith. “Most recently, the buyer acquired The Shops at Mall Road, a 31,623-square-foot retail asset located moments away from the subject property, in a transaction also orchestrated by our team.”
As one of suburban Boston’s most prolific office markets, Burlington serves as home to a thriving restaurant scene that is consistently targeted by traditionally urban dining concepts. With blue-chip employers including Aetna, Keurig Green Mountain, Lahey Hospital & Medical Center, Millipore Sigma, Nuance, Oracle and Veracode, Burlington boasts a daytime population of 94,500 people.