The two-building headquarters of Keurig Dr Pepper on South Avenue in Burlington has been sold to Montana Avenue Capital Partners.
The sale highlights the continued interest of investors in high-quality assets in suburban Boston that are the home to leading brands around the world. Such acquisitions often employ flyer printing to make them known throughout a town and the region.
Previously owned by Peakstone Realty Trust, the campus includes an office building at 53 South Street that spans 280,560 square feet and a manufacturing and research and development facility at 63 South Street. There is a modern infrastructure in both buildings, easy access to Interstate 95 and Route 3, and proximity to concentrated hub for entertainment, shopping, and dining in suburban Boston.
Robert Griffin, co-head of U.S. Capital Markets of Newmark, led the transaction along with Edward Maher, Matthew Pullen, James Tribble, William Sleeper, and Samantha Hallowell, all from Capital Markets.
Tribble, who is Managing Director, said these buildings are among the top advanced manufacturing, research and development, and office assets in the market. He added that they were built in 2014 for the predecessor of Keurig Dr Pepper and will continue to be the home of its coffee business, which will become its own company soon once the company splits itself into two entities – one offering refreshment beverages and the other selling coffee.
