Chelmsford Office Building Refinanced For $4.97 Million
AIS|CRE has refinanced the office property at 6 Omni Way in Chelmsford, MA for $4.97 million via Main Street Bank.
The property features a 215,288-square-foot office campus set on 19 acres along Chelmsford’s Route 129 business corridor. Following the departure of anchor tenant Kronos for CrossPoint in Lowell, 6 Omni Way’s occupancy is currently 12%, presenting a unique repositioning or redevelopment opportunity.
AIS|CRE Remortgages Chelmsford Property
Framingham based, AIS|CRE has successfully remortgaged their property at 2 Omni Way in Chelmsford for $10.08 million. The lender, Middlesex Savings Bank, provided the funds for the new mortgage of the three-building, 215,288-square-foot office campus.
The buildings are set on 19 acres along Chelmsford’s Route 129 business corridor. Following the departure of anchor tenant Kronos for CrossPoint in Lowell, 2-4-6 Omni Way’s occupancy is currently 12%, presenting a unique repositioning or redevelopment opportunity
Three-building Chelmsford office campus formerly home to Kronos acquired for $8.5 million
2-4-6 Omni Way, a three-building, 215,288-square-foot office campus formerly anchored by Kronos, has been acquired by AIS|CRE for $8.5 million. The sale amounts to about $40 per square foot; NAI Hunneman represented seller CWCapital in the transaction. A second, vacant 129,000-square-foot office building recently vacated by Kronos located at nearby 297 Billerica Road in Chelmsford recently sold for $12.4 million, about $96 per square foot.
Following Kronos’ departure from 81,760 square feet at 4 Omni Way to its’ new 500,000-square-foot headquarters at the nearby Cross Point office towers in Lowell, the campus is just 12%-occupied, presenting an unprecedented development opportunity. The Town of Billerica has indicated its’ vision for 2-4-6 Omni Way is redevelopment into a mixed-use complex consisting of a business hotel, retail, restaurants, indoor recreation, entertainment, and other destination-oriented amenities. 2-4-6 Omni Way is located along Chelmsford’s Route 129 business corridor, convenient to Route 3 and Interstates 95 and 495.