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Colony Capital sells Framingham, Mass., properties for $53M

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Colony Capital sells Framingham, Mass., properties for $53M

Colony Capital Inc. sold two office buildings totaling more than 292,000 square feet in Framingham, Mass., for $53.3 million, the Commercial Property Executive reported, citing Yardi Matrix data.

A joint venture between Campanelli and TriGate Capital bought the 85%-occupied, 118,713-square-foot property at 161 Worcester Road and the 94%-leased, 166,101-square-foot property at 492 Old Connecticut Path, according to the report.

The 161 Worcester Road building is reportedly leased to various tenants, including Charles Schwab, MSA Financial and Wells Financial Advisors, and has an adjacent 7,200-square-foot retail building that is 100%-leased to Temazcal Tequila Cantina.

The 492 Old Connecticut Path asset counts Rave Mobile Safety, Virgin Pulse and CST among its tenants, the report added.