Flex/Office Building Sold for $360 PSF in Natick
Dean Blackey, Managing Director, recently negotiated the sale of a boutique flex/office building in Natick, MA, for $351 per square foot.
Located at 13 Tech Circle, the 11,100-square-foot single-story office/flex building was acquired by Busek, Inc. and sold by B&L Associates Inc. R.W. Holmes Managing Director Dean Blackey represented the seller and procured the buyer.
The standalone building in East Natick Business Park was sold for $3.99 million, or $360 per square foot. The building was completely rehabbed in 2008 and 2021, respectively, and converted to Class A R&D space.
“It is no secret that single-story product like 13 Tech continues to command top dollar. However, to find a building that is this well sorted from a capital expense standpoint is even rarer.” Mr. Blackey said. “$360 per square foot represents one of the highest sales per SF for this type of product in the Natick and Framingham market.”