BURLINGTON, MA—Newmark has announced the arrangement of the $84.5 million sale and acquisition financing of Keurig Dr Pepper’s two-building headquarters campus at 53 & 63 South Avenue in Burlington, Massachusetts. The 431,233-square-foot office and R&D/manufacturing property was sold by Peakstone Realty Trust to Montana Avenue Capital Partners.
The transaction was led by Newmark’s Co-Head of U.S. Capital Markets Robert Griffin, alongside Boston Capital Markets Executive Vice Chairman Edward Maher, Vice Chairman Matthew Pullen, Executive Managing Director James Tribble, Senior Managing Director Samantha Hallowell and Associate Director William Sleeper. The team represented the seller while also securing the buyer.
On the financing side, Newmark’s Boston Debt & Structured Finance group—Vice Chairman David Douvadjian, Sr., Executive Managing Director Timothy O’Donnell, Senior Managing Director David Douvadjian, Jr. and Associate Directors Bobby Alvarado and Conor Reenstierna—arranged acquisition financing on behalf of Montana Avenue Capital Partners.
“53 & 63 South Avenue are among the marquee office and advanced R&D/manufacturing assets in the market,” said Tribble. “Both buildings were initially built-to-suit for Keurig Dr Pepper’s predecessor in 2014 and will continue to host the headquarters of its coffee business, which is slated to become a standalone company following its planned split into separate coffee and refreshment beverage giants.”
The campus includes a 280,560-square-foot office building at 53 South Avenue and a 150,673-square-foot R&D/manufacturing facility at 63 South Avenue. Both properties feature modern infrastructure, strategic access to Route 3 and Interstate 95, and proximity to one of suburban Boston’s most concentrated hubs for shopping, dining and entertainment.
Newmark Executive Managing Director Tyler McGrail provided local leasing expertise for the deal, while Senior Financial Analyst Nickolas Revers and Financial Analysts Grady Zink and Harrison Zucco supported the transaction with financial modeling and analysis.
The sale underscores continued investor interest in high-quality suburban Boston assets anchored by leading global brands.
