Jumbo Capital, Sound Mark Partners Land Stony Brook Office Park in +$80 Million Deal
Jumbo Capital, Sound Mark Partners Land Stony Brook Office Park in + Million Deal
Clarion Partners Cashes Out 270,000-SF Office Park Fully Leased to Brainshark, TIAA, Stanley Black & Decker Among Others
Jumbo Capital Management of Quincy, MA and Sound Mark Partners out of Greenwich, CT paid roughly $296 per square foot for the suburban campus comprised of four interconnected buildings located at 130 Turner St., and a 3,925-square-foot retail building at 5 Turner St.
Constructed in 1984 and renovated in 2003, the park is fully leased to Brainshark, Wolters Kluwer, TIAA, Stanley Black & Decker, Ultratech, DDC Capital Management and Wells Fargo.
Stony Brook Office Park sits on 16 acres roughly five minutes from I-90 and within walking distance of the Brandeis-Roberts MBTA commuter rail station. The complex is visible from I-95, adjacent to Brandeis University and roughly two miles from the Moody Street retail and restaurant corridor.
The Newmark Knight Frank Capital Markets Boston office team comprised of Robert Griffin, Edward Maher, Matthew Pullen, James Tribble and Samantha Hallowell represented Clarion Partners in the sale. David Douvadjian and Timothy O’Donnell of NFK’s Capital Markets debt team arranged financing for the buyer.
Please see CoStar COMP #4096921 for more information on this transaction.