188,000 square foot Burlington office building sells for $67.4 million
Yesterday (August 11th, 2016), the approximately 188,000 square foot office building at 1 Wayside Road in Burlington was acquired by Class A office space owner, manager, developer and operator Piedmont Office Realty Trust of Cambridge, MA for approximately $67.4 million, amounting to approximately $359 per square foot, as recorded in the Middlesex County Registry of Deeds. 1 Wayside Road last sold in June 2010 for approximately $28.8 million, amounting to approximately $153 per square foot; the exact 2010 sales figure is $28,759,456.27.
1 Wayside Road is currently the headquarters of Nuance Communications, a global leader in voice recognition technology with approximately 14,000 employees, who occupies the entire building. Nuance Communications signed a 12-year lease extension for 1 Wayside Road in October 2015. The following is the deed for the sale of 1 Wayside Road to Piedmont Office Realty Trust: