| Cathartes Manages Acquisition of Taunton
Corporate Center |
Taunton, MA (July 1994) The Cathartes Group, LTD has
successfully negotiated the acquisition of the Taunton Corporate Center.
Taunton Corporate Center Limited Partnership was formed between The Cathartes
Group and Darin Associates, a real estate investment concern managed by Darin
Samaraweera.
The building was purchased from the FDIC, through Recoll
Management. Steve Clancy and Jim Belli of Lynch Murphy Walsh and Partners
represented the seller. The sales price, according to the registry of deeds,
was $1.4 million. Chris Griffin of CB Commercial has been named leasing agent.
The 70,000 s/f flex office/industrial building was constructed in 1987
and is located in the Myles Standish Industrial Park on route I-495, midway
between routes I-95 and 24. The park's location and amenities, which include a
150 room full service Holiday Inn, have attracted a prestigious list of
corporate tenants including: GTE, Federal Express, Pepsi, Midas, Decatur
Hopkins, Mazda and the U.S. Post Office.
Taunton Corporate Center is
the only building in the park designed as a multi-tenant building, serving as
an incubator for the park and offering flex space in units from 3,000 s/f to
10,000 s/f. "This property is extremely well positioned. There are a limited
number of first class alternatives for smaller flex office/industrial tenants,"
said Griffin, "and we have already received inquiries from companies located
from Woburn to Rhode Island."
The Cathartes Group, LTD, who acquired
the American Twine Office Park in Cambridge earlier this year, is a
Boston-based real estate investment firm working with regional, national and
international investment partners in the acquisition of commercial real
estate.
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