A Meriden office-building pair has drawn a $16.3 million sale price from a Boston landlord, brokers say.
Albany Road Real Estate Partners paid about $105 a square foot for 155,000 square feet of Class A space in the two buildings known as Meriden Executive Park, at Exit 19, just off I-91, CBRE/New England brokers Patrick Mulready and John McCormick said Tuesday.
CBRE said it represented seller TC Meriden and brought the buyer to the table. The property addresses are 530 and 538 Preston Ave. in Meriden.
The buildings were about 92 percent occupied at the time of the sale, brokers said. Major tenants include USI, the Institute of Professional Practice and PMI Insurance Group.
Albany Road’s realty-investment portfolio holds about $190 million in assets, including Branford Business Center, a six-building property acquired earlier this year for $14.3 million, plus a handful of Connecticut self-storage sites.
