Newmark has successfully arranged the $84.5 million sale of 53 & 63 South Avenue in Burlington, Massachusetts. The property consists of two buildings totaling 431,233 square feet and serves as an office and R&D/manufacturing campus for Keurig Dr Pepper.
The Newmark team—comprised of Robert Griffin, Edward Maher, Matthew Pullen, James Tribble, Samantha Hallowell, and William Sleeper—represented the seller, Peakstone Realty Trust, in the transaction. The buyer, Montana Avenue Capital Partners, was also sourced by Newmark.
In addition, Newmark Boston’s Debt & Structured Finance team, including David Douvadjian Sr., Timothy O’Donnell, David Douvadjian Jr., Bobby Alvarado, and Conor Reenstierna, arranged acquisition financing for the buyer.
“53 & 63 South Avenue are among the marquee office and advanced R&D/manufacturing assets in the market,” said James Tribble. “Both buildings were initially built-to-suit for Keurig Dr Pepper’s predecessor in 2014 and will continue to serve as the headquarters of its coffee business, which is set to become a standalone company following a planned corporate split.”
The transaction highlights strong investor interest in high-quality, strategically located office and R&D space, particularly those anchored by stable, long-term tenants.
