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Boston Capital Pays $21 Million

102.47/SF for Alcatel USA Building
December 17, 1998
Boston Capital Institutional Advisors has acquired the Alcatel USA Building at 44983 Knoll Square in Ashburn, VA from Raytheon for $21 million or $102.47 per square foot. Berkeley Investments, an investment and management company, advised Boston Capital in the transaction. Managing directors Mark R. Keller, William S. Absill, and Robert F. Donhauser with the investment division of Grubb & Ellis negotiated on behalf of the seller. Boston Capital now has $5 billion in assets comprised of 1,800 properties in 48 states. The Alcatel USA Building, fully leased by Alcatel Data Networks, is a 204,934-square-foot class-A office structure that was developed by the Charles E. Smith Cos. in 1992.
By: Joanne Fields (12/18/1998)
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