A data center and office site in Boxborough, Massachusetts, previously operated by Intercontinental Exchange (ICE), is now available for sale or lease. Located at 60 Codman Hill Road, this property offers an excellent opportunity for businesses seeking a well-equipped facility in Middlesex County.
Property Details
Sitting on a sprawling 9-acre parcel of land, the two-story property spans an impressive 100,260 square feet (9,315 square meters). Its prime location in Middlesex County makes it easily accessible to the surrounding areas, ensuring convenient connectivity for any business operations.
Historical background
This property has seen a rich history of occupancies over the years. Originally built in 1986, it was once the home of Cereva Networks, a company that specialized in offering a unique system combining storage networking boxes with storage array disks. Subsequently, the site served as the headquarters for financial market data provider Interactive Data Corp, which leased the premises after the acquisition of the former in 2015 by Intercontinental Exchange (ICE).
Lease History
According to SEC filings, Intercontinental Exchange (ICE) leased 60 Codman Hill until the year 2019. During its occupancy, the property served as Interactive Data Corp’s US East Coast data center, catering to their information technology and data storage needs.
Financing arrangement
In 2014, a report revealed that Colliers facilitated a financing arrangement of $12.05 million for the real estate firm Atlantic Tambone. The financing aimed to refinance the debt on the property, as well as its neighboring property, 70 Codman Hill. This financial support further contributed to the stability and development of the site.
Offer for sale
As of 2022, the Stubblebine Company has taken the initiative to offer the vacant facility at 60 Codman Hill Road for sale. The property’s impressive size, strategic location, and past associations make it an attractive investment opportunity for businesses looking to establish or expand their operations in the region.
Demolition and Development
Interestingly, Boxborough’s government website indicates that Concord Property Management filed for permission to demolish the property in the same year it was put up for sale. Following the demolition, plans are in place to develop a single-story industrial warehouse building, presenting an alternative option for potential buyers or lessees.
The data center and office site at 60 Codman Hill Road in Boxborough, Massachusetts, offer a unique opportunity for businesses in search of a well-equipped facility in Middlesex County. With a rich history involving prominent companies like Cereva Networks and Interactive Data Corp, the property possesses immense potential for a wide range of industries. Whether it is a sale or lease, the Stubblebine Company’s offering ensures that interested parties have the chance to acquire this prime piece of real estate. While plans for demolition and subsequent industrial development are in place, the possibilities and potential for this property remain vast.