January 22, 2018

Oxford firm spends $13M on two Marlborough properties

Kelleher & Sadowsky
200 Donald Lynch Boulevard in Marlborough and another nearby property have been sold for $13 million.

Two office buildings in Marlborough, including the U.S. home of ReWalk Robotics, have been sold to Oxford-based Minardi Limited Partnership for more than $13 million as the property management firm extends its reach into the MetroWest region.

The sale, brokered by Worcester real estate firm Kelleher & Sadowsky Associates, includes 150 and 200 Donald Lynch Blvd., located inside an established business park just off of I-290 next to Solomon Pond Mall.

The seller was Pondview JV Owner, LLC, a Burlington-based property investment firm, according to the Massachusetts Secretary of State office. That company purchased the two properties and five others on the same street for $34 million in December 2014.

Since then, Pondview JV has sold five of those properties for $28.3 million, according to records with the Worcester County Registry of Deeds.

According to the city's land assessing database, the Minardi's two new properties are assessed for a combined $10.7 million.

Currently, Super Stars Learning Center leases 150 Donald Lynch Blvd., a 9,250-square-foot one-story building. Several companies lease space at the 116,762 three-story building at 200 Donald Lynch Blvd., including Brookfield Power, Western Digital and ReWalk Robotics.

In a statement, Mario Minardi, a partner with Minaridi Limited Partnership, said the sale represents a unique opportunity, especially given the limited availability of high-quality, well stabilized investment property.

William Kelleher, principal of Kelleher & Sadowsky, said the property features access to I-290 and I-495, proximity to the Solomon Pond Mall, recent building upgrades and significant net operating income.


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