Value-Add Office | 77% Occupancy | Boston MSA

Highlights:

• Highly Amenitized, Recently Renovated — 2017 renovation delivered a modernized lobby, patio, restrooms, and elevators, complemented by an on-site fitness center and standout lobby amenities: complimentary beverages (including draft beer) and a self-service convenience store — an amenity package rare among suburban office competitors.
• Superior Parking — 340 spaces at 4.63 per 1,000 SF, a ratio few competing MetroWest assets can match and a durable draw for tenants.
• Efficient, Flexible Floor Plates — Five stories of ~15,000 SF plates that subdivide easily, accommodating users from boutique professional-services tenants to full-floor occupiers.
• 6.45-Acre Site in a Supply-Constrained Corridor — A generous parcel with long-term optionality, adjacent to Bose and within an established corporate cluster anchored by Staples (a former Penn Place HQ tenant), Sanofi, MathWorks, and TJX.
• Institutional Quality, Offered Free and Clear — A well-maintained, professionally managed asset presented as-is, free and clear, and without an asking price — priced at a discount to replacement cost.

Description:

As exclusive sales agent, JLL, in partnership with Apex Commercial Exchange (ACE), is pleased to present Penn Place (the "Property"), a 73,566-square-foot boutique office building on 6.45 acres at 100 Pennsylvania Avenue in Framingham, MA. Positioned just off I-90 at the Route 9 intersection — with direct connectivity to both I-495 and I-95 — Penn Place anchors one of Framingham's established corporate corridors in the heart of MetroWest, the largest and most resilient suburban office market in the Boston MSA.

The Property is 77% leased across a diversified tenant base spanning technology, education, professional services, and life sciences, carrying a 3.1-year WALT and average in-place rents of $25.61 PSF. Efficient ~15,000 SF floor plates subdivide readily to serve a wide range of space requirements, while a comprehensive 2017 renovation modernized the lobby, patio, restrooms, and elevators. Tenant appeal is reinforced by a deep amenity package: an on-site fitness center plus distinguishing lobby amenities including complimentary beverages — both soft drinks and draft beer — and a self-service convenience store offering snacks and personal-care items. Few suburban office assets in the submarket carry this level of amenitization. The combination of superior accessibility, a stable and diversified rent roll, flexible floor plates, and desirable amenities positions Penn Place as a compelling opportunity in a market defined by limited quality vacancy and consistent fundamentals. Meaningful additional upside exists through the lease-up of remaining availability in a submarket where quality space stays constrained. The offering is presented as-is, free and clear.

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