8 Technology Dr, Westborough MA
Ferris Development acquired the Technology Drive properties in April of 2015. The two-story Class A properties combined are a total of 222,453 square feet. The two assets are in excellent condition with minimal capital improvements needed. The team successfully expanded and extended one of its largest tenants SimpliVity prior to acquisition. A tremendous execution on behalf of the investors adding value and increasing Revenue from day one. The two properties have a fantastic park like setting offering a full service cafeteria amenity as well as a new fitness center. The properties combined are 98% leased and 10-12% investor returns are projected to commence in 2016.