NPV/Direct Invest Picks Up Fourth Area Office

CHELMSFORD, MA-NPV/Direct Invest picked up its third asset in the last two months with the $12.4-million acquisition of a fully leased, 82,228-sf office and R&D building in Chelmsford’s Altid Business Park. The purchase of 2 Omni Way from Westborough-based Carruth Capital LLC follows the buyer’s $17.1-million acquisition of two high visibility, fully leased buildings at 4 and 6 Omni Way in December. NPV/Direct Invest also owns 5 Omni Way in the same business park.

The two-story building, which is fully leased to high-tech work force solutions provider Kronos Inc. under a long-term lease through June 2012, is NPV/Direct Invest’s fourth buy in the 30-plus building, 1.5-million-sf, master-planned business park in the last two years. All four buildings are located in the business park’s Omni sub-park.

Chris Griffin, with Cushman & Wakefield’s Capital Markets team, tells GlobeSt.com that competition was stiff for the Omni Way property.

“The asset garnered interest from both institutional and private investors,” he says. It was NPV/Direct Invest’s reputation as a deal closer and the firm’s demonstrated ability with its three prior purchases that helped the Boston buyer.

Robert Griffin, president of Cushman & Wakefield’s New England region, which represented the seller and procured the buyer in the transaction, called the firm’s latest purchase “a highly valued investment” because of its quality construction and long-term, credit worthy tenant.

“The sale of 2 Omni Way offered superb pricing for Carruth and provided NPV with an excellent match for its investment program,” Griffin says in a statement.

Both Chris and Robert Griffin as well as Marci Griffith Loeber and Richard Putprush, worked on the transaction.

In December, NPV/Direct Invest acquired 4 Omni Way, a two-story, 81,780-sf office and R&D facility set on 7.8 acres, and its slightly smaller twin, a two-story, 51,300-sf facility on 4.6 acres at 6 Omni Way. The firm picked up its first Chelmsford property in 2005 when it acquired 5 Omni Way in the same business park.

Officials from NPV/Direct Invest did not return calls to the firm’s Boston office by GlobeSt.com.