Sun Microsystems Completes $212 Million Sale Leaseback of Office Campus Near Boston

Boston Business Journal - June 29, 2007

Sun Microsystems has sold its Burlington campus for $212 million to burlington based developer Nordblom Company for $212 million. The campus will be renamed "Network Drive at Northwest Park."

Sun Microsystems will downsize its presence at the 158-acre campus which was built in 1998. As part of the sale of the property, Sun Microsystems will remain a tenant but will only lease back about 450,000 square feet, said Tamie Thompson of Jones Lang LaSalle, whose firm is heading up the leasing of the Sun campus for Nordblom.

Sun Microsystems executed a 10-year lease with "mid-market rents," said Hunnewell who declined to provide specifics. Approximately 1,500 Sun Microsystems employees work at the Burlington campus.

In addition to 300,000 square feet available for lease in existing buildings, Nordblom has the right to build another 570,000 square feet of commercial uses. Hunnewell said permits allow for office, retail and hotel development on the site but Nordblom has not decided what use or combination of uses will be added to the campus. Sphere: Related Content