Burlington’s Middlesex Marketplace trades for $29 million
Trammell Crow Company has acquired Middlesex Marketplace, a 38,243-square-foot outdoor retail mall located just off of Interstate 95/128 in Burlington, for $29 million. The sale of the mall, which was built in 2013, amounts to over $750 per square foot. Newmark Knight Frank represented the property’s private seller and procured Trammell Crow as the buyer. Middlesex Marketplace is located across from the Burlington Mall and features a free-standing Del Frisco’s Grille, as well as tenants including Bassett Furniture, Qdoba Mexican Grill and Visionworks. Trammell Crow also acquired The Shops at Mall Road, a 31,623-square-foot retail property located at nearby 112 Burlington Mall Road, for $14.75 million in Fall 2017.
Ground broken on 178 new-construction apartments in Billerica
Trammel Crow has broken ground on Alexan Billerica, a 178-unit garden-style apartment community located in Billerica. Alexan Billerica will open in December 2018 and feature 6,000 square feet of recreation and amenity space; leasing of apartments will commence in August 2018. "Alexan Billerica is designed specifically with residents in mind – well-appointed, modern units located on a tranquil setting that offers discerning residents the 'best of' luxury living, such as a private fitness center, business center, pool and indoor/outdoor leisure space," said Andy Huntoon, Managing Director at Trammell Crow Residential, in a prepared statement. "Residents will also benefit from proximity and access to a business corridor with numerous suburban offices, shopping outlets and lifestyle venues." Alexan Billerica is located just off of Route 3 and Interstate 495 and within walking distance to the MBTA Commuter Rail, a short drive or transit ride to Burlington, Lowell, Cambridge and Boston.