Saturday, December 15, 2007

Boston firm pays $4.5M for local office building

STAG Capital Partners has purchased a building at 4646 Needmore Road, home to Electronic Data Systems Corp.

Boston-based STAG purchased the building, located on 10 acres of land, from Dallas-based KDC Legacy Ltd. Partnership for $4.5 million on Dec. 10, according to Montgomery County records.

Electronic Data Systems (NYSE: EDS) is a leading supplier of a diverse portfolio of business and technology soluionts to help its clients boost performance. The company fully leases the 131,000-square-foot building.

STAG Capital Partners said in a news release Thursday that it acquires single-tenant, net leased properties third-party transactions and corporate sale-leasebacks to add to its existing portfolio of real estate assets.

Tenants in these properties have included private-equity- sponsored companies and both investment and sub-investment grade corporations. Property types include warehouse, flex, manufacturing and office buildings.

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source: bizjournals.com

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