Newmark Knight Frank’s Executive Managing Director Michael Frisoli represented Nordblom Co. and Alcion Ventures in the purchase of a 50,300-square-foot flex property in Burlington, Mass. The brokerage company was also tapped to conduct leasing efforts at 60 Blanchard Road, with the new owners planning to undertake several upgrades by May 2020. The seller was Jam Holdings Inc., which traded the property for $6.4 million.
Nordblom is planning for more construction at the site, after the company received a permit to add up to 84,500 square feet of new office space. The company, which is also working on a 235,000-square-foot office building in Boston’s South End, expects that the building will attract a number of R&D, office and lab tenants.
The property is located on 7.8 acres and includes 650 feet of Route 128 frontage while also providing easy access to Interstate 95. On the other side of the interstate are Lahey Hospital & Medical Center as well as Burlington Mall. The area is also home to the offices of several companies such as Oracle, Prometric, Sophos Inc. and dataCon Inc.
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