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Office / Office Live Work Unit


INSTITUTIONAL ASSET + UPSIDE | BOSTON MSA


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251 LOCKE DR, MARLBOROUGH, MA 01752

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Transaction Fee:
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PROPERTY INFORMATION
Asset Type: Property
Primary Property Type: Office
Primary Sub-Type: Office Live Work Unit
Building Size (Sq. Ft.): 160,649
Year Built: 1984
Occupancy: 66%
Lot Size (Acres): 14.78
Parking Count: 649
Prime value-add office investment in Marlborough just outside of Boston and 1
mile from Interstate 495 and Route 20.
This asset is 66% occupied, allowing investors to lease out vacancies at market
rates, or owner/users can use vacancies for their own business.
Commuting is a breeze to and from the asset with I-495 and I-290 seconds away
and a plethora of local and national retailers within a quick drive.
ONLINE AUCTION
Jun 25 - Jun 26, 2024
BIDDING STARTS IN
13d 02h:00m
Starting bid
$4,000,000
DATA ROOM DOCUMENTS
REGISTER TO BID
Roy SandemanCBREMA Lic # 9581229Broker Contact(617) 933-0157
Send Email
Derek RuddTen-XAuction Advisor(949) 208-9770
Send Email
Auctioneer License
Ten-X, LLC Arlene Richardson RE Brkr 423761-RE-LC
Property Id215403
Event Item2024-Jun-24
Investment
Opportunity
COSTAR
ANALYTICS
DATA
ROOM



PROPERTY INFORMATION

Prime value-add office investment in Marlborough just outside of Boston and 1
mile from Interstate 495 and Route 20.
This asset is 66% occupied, allowing investors to lease out vacancies at market
rates, or owner/users can use vacancies for their own business.
Commuting is a breeze to and from the asset with I-495 and I-290 seconds away
and a plethora of local and national retailers within a quick drive.
Marlborough demographics are noteworthy, boasting a rising population and high
household incomes in a 10-mile radius of over $144,000.
Primary Property Type
Office
Occupancy
66%
Year Built
1984
Floors
3
Lot Size (Acres)
14.78
Starting Bid
$4,000,000
Building Size (Sq. Ft.)
160,649
Parking Ratio
4.04
Building Coverage Ratio
0.25
Tenancy Type
Multi
Primary Sub-Type
Office Live Work Unit
Type of Ownership
Fee Simple
Building Class
Class B
Assessor's Parcel Number
MARL-000053-000081
Property ID
215403
Parking Count
649
Zoning Designation
LI, Marlborough
Common Amenities
Courtyard, Fitness Center, Signage, Air Conditioning
Floor Plate Size (Sq. Ft.)
53,550
Primary Property Type
Office
Primary Sub-Type
Office Live Work Unit
Occupancy
66%
Type of Ownership
Fee Simple
Year Built
1984
Building Class
Class B
Floors
3
Assessor's Parcel Number
MARL-000053-000081
Lot Size (Acres)
14.78
Property ID
215403
Starting Bid
$4,000,000
Parking Count
649
Building Size (Sq. Ft.)
160,649
Zoning Designation
LI, Marlborough
Parking Ratio
4.04
Common Amenities
Courtyard, Fitness Center, Signage, Air Conditioning
Building Coverage Ratio
0.25
Floor Plate Size (Sq. Ft.)
53,550
Tenancy Type
Multi

DETAILED DESCRIPTION

In conjunction with Ten-X Commercial Real Estate, CBRE Boston Capital Markets
(CBRE) is pleased to offer for sale 251 Locke Drive, a 160,649-square-foot
office building located in Marlborough, Massachusetts (the Property or 251 Locke
Drive). The Property is 66% leased to Candela Medical Corporation, occupying
63,245 square feet with a loading dock through February 2027, and GE HealthCare,
occupying 42,748 square feet through September 2030. Constructed in 1984 and
renovated in 2016, the first-class office building features top-tier property
specifications, including a 4 per 1,000 square feet parking ratio, 4,000 amps of
power, and parking expansion capabilities of 86 spaces. On-site amenities
include a café and fitness center with showers and lockers. The asset comprises
two connected, two-floor buildings on three levels with two interior landscaped
courtyard patios. Located within Marlborough Industrial Park, the Property is
situated 1 mile from Interstate 495 and Route 20, 2 miles from the Interstate
495/Interstate 290 interchange, 6 miles from Route 9, and 7 miles from
Interstate 90 (Massachusetts Turnpike), providing easy access for commuters
traveling from all areas of Greater Boston. 251 Locke Drive also benefits from
the expansive amenity base in Marlborough and neighboring towns, offering an
endless supply of restaurants, retail, service, and lifestyle options within
minutes of the Property. The long list of corporate neighbors, such as The TJX
Companies, Quest Diagnostics, IBM, Wellington Management Company, Angiodynamics,
Hologic, Boston Scientific, Cavium, Raytheon, Dow, and VCE, further demonstrates
the viability of 251 Locke Drive as a proven location over several market
cycles. Property tours are available by appointment only. Please contact the
listing broker to schedule.





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