A Boston real estate investor has snapped up an office park in Chelmsford for $23.5 million. Novaya Real Estate Ventures purchased One and Two Executive Drive from an affiliate of RREEF Real Estate.
The two buildings, totaling 225,334 square feet of space, are 97 percent leased to tenants including Rockwell Automation, Captivate Networks and L-3 Communications.
“One and Two Executive Drive presented Novaya with the unique opportunity to purchase an asset with strong tenancy in a submarket that continues to be a hub for the most successful companies in technology, defense and medical device in New England,” said Peter Carbone of Novaya Real Estate Ventures, in a statement.
The sale was brokered by Cushman & Wakefield.