Boston, MA (March 21, 2018) – Lincoln Property Company Boston is pleased to announce the sale of 295 Foster Street, a 96,935 square-foot office building in Littleton, Massachusetts. Ferris Development sold the building for $4.9 million to Acton-based Asija Properties LLC.
Lincoln’s Suburban team of Tim Latham, Senior Vice President, Chris Devaux, Vice President and Carolyn Molloy, Senior Associate, exclusively represented the seller in the transaction.
295 Foster Street was sold via Ten-X, the nation’s leading online real estate transaction marketplace. Ten-X Commercial’s Live Bid transaction method allowed for pre-qualified buyers to compete on price.
“We were very happy with the deal metrics and Ten-X certainly helped us find the ‘unknown buyer’,” said LPC Boston Vice President Chris Devaux. “It is clear the platform works really well for disposing certain types of assets.”
After acquiring the fully vacant office building in April 2013 for $18/SF, Ferris Development made significant investments into the property including: upgraded common areas and lobby, entirely new window and frames throughout the building and additions of new tenant amenities to the building including a lounge area, fitness center and a shared conference room. The first-class suburban office space, conveniently located at the junction of I-495 and Route 2, is currently 70% leased.
Carolyn Malloy Chris Devaux Suburban Brokerage Tim Latham