One Radcliff Road

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One Radcliff Road

Postby swamper on Wed Oct 23, 2013 2:41 am

This should be interesting to see what may pan out:

Tewksbury building acquired for $6.65M

By Dan O'Brien,
Updated: 10/19/2013 01:10:11 AM EDT

TEWKSBURY -- A New York-based real-estate company that focuses on enhancing distressed properties has acquired an empty office building adjacent to where Thermo Fisher recently consolidated local operations.

ACG Equities purchased the two-story, 140,000-square-foot building at One Radcliff Road, according to Richards Barry Joyce & Partners, a Boston-based real-estate advisory firm that brokered the sale.

The price and seller were not disclosed, although records at the Northern Middlesex Registry of Deeds indicate the seller was RREEF America REIT III and the price was $6.65 million.

According to Barry Richards Joyce & Partners, ACG Equities plans to make "significant capital investments" in the property, including renovations to the building entry and lobby, improvements to the landscaping and additional parking.

The property is on more than 16 acres of land in a mature park setting off North Street.

"This is an excellent acquisition for ACG Equities, given their focus on enhancing and repositioning underperforming and vacant assets," said Chris Skeffington, senior vice president, Richards Barry Joyce & Partners, in a statement. "In addition to the planned capital investments, ownership is also well funded for providing improvement dollars for prospective tenants."

In the same release, ACG Equities Regional Partner Steven Cox said he anticipated the building being "one of the top buildings in the market."

Town records indicate the property was most recently assessed at $7.93 million.

Read more: ... z2iWYTSouA
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Re: One Radcliff Road

Postby bferrari on Wed Oct 23, 2013 12:23 pm

Good to see these companies taking an interest. This means that they see value in investing money into these buildings in our town. This is good.

Another good thing that came from Thermo-Fisher....
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Re: One Radcliff Road

Postby Harry on Wed Oct 23, 2013 3:28 pm

How can this be? This wasn't deemed possible that a respected organization would come here... which is why we were told we simply had to whxxe ourselves out to an organized crime and prostitution business....
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