Greatland Realty Partners Buys 2 Lexington Office Buildings
Boston-based Greatland Realty Partners bought two properties on Hartwell Avenue in Lexington for a total of $34.2M, according to the Middlesex South Registry of Deeds.
The firm bought 25 Hartwell Ave., a 33K SF property sitting on 4.1 acres, for $17.9M and 40 Hartwell Ave., a 30K SF property sitting on 7 acres, for $16.3M. Waltham-based Duffy Properties, which owns numerous residential and commercial properties in the Route 128 corridor, was the seller for both deals.
Greatland and Duffy didn't respond to requests for comment on the sales.
The two properties, both listed as office buildings on Duffy's website, don't appear to be occupied. Brokerage firm Cresa in March 2021 marketed a sublease listing at 40 Hartwell Ave. for Duffy. Previous occupants of the building included Cambridge Technologies and Fresenius Medical Care, according to Google Maps.
In 2016, Duffy Properties selected Maugel Architects to renovate the two properties and another, 45 Hartwell Ave. The renovations were designed to upgrade the buildings' interiors and exteriors.
This isn't Greatland's first deal in Lexington. The firm acquired 1050 Waltham St. for $7M in 2019. In July, Greatland and Singerman Real Estate announced that Revolution Labs, the 180K SF life sciences facility being built on the site, was fully leased by five companies. That development is one of the first from Greatland since it was founded in 2018.
