Normandy Real Estate Partners has sold 300 Baker Avenue in Concord, Massachusetts to Novaya Real Estate Ventures for $63.5 million. Encompassing a total of 413,415 sqf, the office building has recently undergone substantial renovations including lobby, common area, amenity and building system upgrades. Amenities include a full-service cafeteria, fitness center, conference center and basketball and volleyball courts. NGKF Capital Markets represented the seller and will be retained by Novaya Real Estate Ventures as the exclusive leasing agent for the property.
“300 Baker Avenue offers durable cash yields, anchored by a number of committed, long-term tenants,” said NGKF’s Matthew Pullen. The building serves as the corporate headquarters for Avention, Lexia Learning Systems and Welch Foods as well as a key administrative, back office and outpatient center for Emerson Hospital.” The property is within walking distance of the city’s commuter rail network.
