Corporate Place
Corporate Place
Corporate Place is a pair of one-story flex and research buildings at 261 and 267 Boston Road in North Billerica, on about 13 acres on the southwest side of Boston Road just north of Bridge Street. The larger building, about 61,800 square feet, was built in 1984 and the second, about 35,600 square feet, in 1986. The name is the one used when the complex was sold in 2016.
The land was a small farm at the fork of the Lowell road (Boston Road) and the Carlisle road (River Road, now Treble Cove Road), known in 1880 as "the Newman place," fourteen acres "with all the buildings thereon," bounded by the land of Joseph Stearns, "the watering place so called," and the lands of Bernard Lynch and the late Lewis White. Benjamin J. Gilbert sold it in 1880 to Jason K. Hutchins, whose estate passed it to William H. Hutchins; he sold it in 1900 to Albert H. Jones, who sold it in 1905 to Burton O. and Alice E. Sanford. The Sanfords sold the farm in 1926 to Wilton P. and Blanche A. Raymond, who gave it up to the Federal Farm Mortgage Corporation during the Depression, in 1939. In 1945 the corporation sold it to Gustav and Helen J. Wagner, and in 1949 the Wagners bought from the Town a further 5.4 acres behind the farm, Lot B on a plan made for the Selectmen. A 1949 survey for Gustav Wagner shows the farm as about nine acres along Boston Road and the new line of Bridge Street, with house lots cut off along Bridge Street.
In September 1983 the Wagners sold all their land on the southwest side of Boston Road, 14.8 acres on a plan by Fleming, Bienvenu and Associates, for $300,000 to a Burlington developer doing business as R. J. Kelly Company. A plan of April 1984 divided it into Lot 1 at the corner of Bridge Street and Lots 2 and 3 on Boston Road. The building on Lot 2 (Building A) received its building permit on June 19, 1984 and the building on Lot 3 (Building B) on January 27, 1986, both one-story concrete-block buildings with loading doors, glass atrium entrances and 322 parking spaces, as shown on a title survey of 1989 by Eastern Engineering Collaborative. In July 1989 the developer mortgaged the two lots to the Teachers Insurance and Annuity Association of America for $5,150,000. The Board of Appeals granted special permits for tenants in 1993 (Bethel Christian Supply Center) and 1994 (New England Mobile Communications), but in December 1994 TIAA foreclosed and bought the property in for $2,030,000.
TIAA sold "261/267 Boston Road" in 1997 for $4,525,000 to W9/TIB Real Estate Limited Partnership, which sold it in 2001 for $5,950,000 to Billerica Equity Partners, LLC of New York. In 2008 it went for $7,900,000 to Boston Road Investors, LLC of Baltimore, and in April 2016 for $8,100,000 to 267 Boston Road, LLC, an affiliate of The RAM Companies of Scarborough, Maine, when the 97,403-square-foot complex was 85 percent leased. Since April 2020 it has belonged to 267 Boston Road Realty Trust, bought for $11,975,000.
The tenants have been a mix of medical offices and small technology manufacturers. The longest was HealthSouth Rehabilitation (2003-2021), the outpatient arm of the New England Rehabilitation Hospital, and the medical tenants also included a Dialysis Clinic (2003-2011), Universal Hospital Services (2003-2007), Five Star Quality Care (2007-2013), Merrimack Valley Trauma Services (2014-2017), Reliant Rehabilitation (2014-2015), Lahey Health Primary Care (by 2016) and Recovery Services (from 2022). Technology firms included Mentor Graphics (2003-2005), Sensistor Technologies (2006-2009), Exar Corporation (2008-2010), HydroCision (from 2008), SI2 Technologies (from 2010), Branson Ultrasonics (2011-2020), Akita Innovations (from 2014), Tepha (from 2017) and Static Clean International (from 2017). Smaller tenants listed in the town's personal property tax books include Grand Wireless, Gibbs Oil, Teloquent, Pace Energy, B & L Mechanical & Consulting, M. S. Inserts and Fasteners, CentiMark, ShineIn Math Academy and High Power Fitness, with Grubb & Ellis Management Co. as the managing agent from 2003 to 2010.
References
- REBusinessOnline, April 8, 2016: The RAM Companies buy Corporate Place, 261 and 267 Boston Road, Billerica, 97,403 sq ft in two buildings built 1985-1986, for $8.1 million
- Billerica assessor database (267 Boston Rd)
Deed References
| Date | Type | Grantor | Grantee | Summary | Recorded |
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| December 18, 1880 | Warranty Deed | Benjamin J. Gilbert of Billerica (Judith Gilbert, his wife, releasing dower) | Jason K. Hutchins of Billerica | The Newman place, 14 acres at the fork of the Lowell and Carlisle roads, sold to Jason K. Hutchins | 143/104 |
"In consideration of One Hundred Dollars and other valuable consideration," "a certain parcel of land with all the buildings thereon situate in said Billerica called the Newman place containing fourteen acres more or less," beginning at the southeasterly corner "at the fork of the Lowell and Carlisle roads," northerly by the Lowell road to land of Joseph Stearns, westerly by Stearns "to the watering place so called," southerly by land formerly of Bernard Lynch to the Carlisle road, easterly by that road to the land of the late Lewis White, around the White land and by the road to the beginning. "Being the same premises conveyed to me by Anthony Jones deed dated Dec. 31st 1875 ... Book 115 Page 1." Dated Dec. 15, 1880, acknowledged in Suffolk Dec. 16. The Lowell road is Boston Road and the Carlisle road is River Road (Treble Cove Road). Book 143 Page 104.
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| January 10, 1900 | Warranty Deed | William H. Hutchins of Billerica (Lulu M. Hutchins, his wife, releasing dower) | Albert H. Jones of Billerica | William H. Hutchins sells the Newman place to Albert H. Jones | 315/179 |
"In consideration of One Dollar and other valuable consideration" ($14.50 in revenue stamps), "two certain tracts of land with the buildings thereon situated in Billerica": the premises of Benjamin J. Gilbert's deed to Jason K. Hutchins of Dec. 15, 1880 (Book 143, Page 104), "said lot contains fourteen acres more or less," and the 30-acre river lot of the deed of the same date (Book 143, Page 105), less the part on "the Causeway road being the principal highway between Lowell and Billerica" taken by the Town under Chapter 471 of the Acts of 1897 for its water works. Dated Jan. 2, 1900 (per Book 377, Page 4). William H. Hutchins had the land from the estate of Jason K. Hutchins by an administrator's deed of about 1890 (index: "Same as 143-104 & 105"). Book 315 Pages 179-181.
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| May 1, 1905 | Warranty Deed | Albert H. Jones of Billerica (Ada F. Jones, his wife, releasing dower) | Burton O. Sanford and Alice E. Sanford of Somerville | Albert H. Jones sells the farm to Burton O. and Alice E. Sanford | 377/4 |
"In consideration of One Dollar and other valuable considerations," "two certain tracts of land with the buildings thereon situated in Billerica," the 14-acre lot of Book 143, Page 104 and the 30-acre lot of Book 143, Page 105 less the town's water works taking of 1897; "Being the same premises conveyed to me by deed of Wm. H. Hutchins dated Jan. 2nd 1900 ... Book 315, Page 179." Dated May 1, 1905, acknowledged in Suffolk. The Sanfords gave back a $3,600 mortgage the same day (Book 377, Page 5). Book 377 Pages 4-5.
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| October 17, 1923 | Warranty Deed | Burton O. Sanford and Alice E. Sanford of Billerica | Haven G. Hill of Lowell | Straw deed of the Sanford farm to Haven G. Hill, 1923 | 693/468 |
Straw conveyance to change the form of the Sanfords' title, "for consideration paid ... with warranty covenants": the 14-acre farm "with the buildings thereon" on the southwesterly side of Boston Road at the River Road, "Being the same premises conveyed to Jason K. Hutchins by Benjamin J. Gilbert by deed dated December 15, 1880 ... book 143, page 104," and the two river parcels on the northeasterly side; "The last two above described parcels being and comprising the premises described in deed from Benjamin J. Gilbert to Jason K. Hutchins dated December 15, 1880 ... book 143, page 105, with the exception of that portion taken by the Town of Billerica ... and now used for a pumping station," and "Intending to convey and hereby conveying all of the premises conveyed to the grantors by Albert H. Jones by deed dated May 1, 1905 ... book 377, page 4," subject to the county takings (Book 568, Page 36; Book 623, Page 99), the state highway taking (Book 575, Page 285), a 1920 grant to the Department of Public Works (Book 631, Page 354) and a $3,500 mortgage to the Mechanics Savings Bank of Sept. 7, 1923. Dated Oct. 16, 1923. Book 693 Pages 468-470.
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| October 17, 1923 | Deed | Haven G. Hill of Lowell, unmarried | Burton O. Sanford and Alice E. Sanford, husband and wife, of Billerica, tenants by the entirety | Haven G. Hill reconveys the farm to the Sanfords as tenants by the entirety | 693/471 |
For consideration paid, with quitclaim covenants, the same three parcels, "the land in said Billerica, with the buildings thereon situate on the southwesterly side of the Boston Road so-called, containing about fourteen (14) acres," from a stone bound at "the intersection of the westerly line of the Boston Road, formerly called Lowell Road and Causeway Road, and the northerly side of the River Road, formerly called Carlisle Road," by Callahan (formerly Joseph Stearns), the Town of Billerica, Callahan (formerly Lynch) and Margaret Kemp (formerly White); "being the same premises to me conveyed by the grantees by their deed of even date," subject to the same takings and mortgage. Dated Oct. 16, 1923. Book 693 Pages 471-473.
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| October 7, 1926 | Quitclaim Deed | Burton O. Sanford and Alice E. Sanford of Billerica | Wilton P. Raymond and Blanche A. Raymond of Arlington, tenants by the entirety | The Sanfords sell the farm to Wilton P. and Blanche A. Raymond | 742/338 |
For consideration paid, "the land in said Billerica, with the buildings thereon, situate on the southwesterly side of the Boston Road, so-called, containing about fourteen (14) acres," bounded from the corner of Boston Road ("formerly called Lowell Road and Causeway Road") and River Road ("formerly called Carlisle Road") by Callahan, the Town of Billerica and Margaret Kemp, with the two river parcels of about ten acres each on the other side of Boston Road; "All of the above described parcels being the same premises to us conveyed by Haven G. Hill by deed dated October 16, 1923 ... book 693, Page 471," subject to the takings and a $4,200 mortgage to the Mechanics Savings Bank, which the buyers assumed. Dated Oct. 6, 1926. Book 742 Pages 338-339.
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| September 14, 1939 | Quitclaim Deed | Wilton P. Raymond and Blanche A. Raymond, husband and wife, of Billerica | Federal Farm Mortgage Corporation of Washington, D.C. | The Raymonds give up the farm to the Federal Farm Mortgage Corporation | 932/537 |
Recorded September 14, 1939 (date per Book 1025, Page 569). "For consideration paid", with quitclaim covenants, the fourteen-acre farm "with the buildings thereon" on the southwesterly side of Boston Road, and two parcels on the northeasterly side: one "Containing about ten acres" between the Concord River, "the River Road, formerly called the Carlisle Road, at the bridge", Boston Road and land of the Town of Billerica; the other, also "about ten acres", north of the town's land, between Boston Road, land of one Foster, land "belonging to one Judkins" and the river. "The last two parcels being premises described in deed recorded with said Deeds, Book 145, Page 105, with the exception of that portion taken by Town of Billerica by provisions of Chapter 471, Acts 1897, and now used for a pumping station. See deed of taking recorded with said Deeds, Book 299, Page 183." Subject to county takings (Book 568, Page 36; Book 625, Page 99), a Massachusetts Highway Commission taking (Book 575, Page 285), a grant to the Department of Public Works (Book 631, Page 354), a sixty-foot easement of the Lowell Electric Light Corporation (Book 892, Page 62) and a $2,600 first mortgage to the Federal Land Bank of Springfield of October 9, 1934 (Book 852, Page 267). Title: deed of Burton O. Sanford and wife dated October 6, 1926. Book 932, Pages 537-539.
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| September 8, 1945 | Warranty Deed | Federal Farm Mortgage Corporation, by the Federal Land Bank of Springfield, its agent | Gustav Wagner and Helen J. Wagner, husband and wife, of RFD 1, Boston Road, North Billerica | The Federal Farm Mortgage Corporation sells the farm to Gustav and Helen J. Wagner | 1025/568 |
Signed March 1, 1945 by Edward M. Whitaker, assistant treasurer of the Federal Land Bank of Springfield; recorded September 8, 1945. "For consideration paid", with warranty covenants, the farm "with the buildings thereon, situated on the southwesterly side of the Boston Road ... containing about fourteen acres", from the corner of "the Boston Road, formerly called Lowell Road and Causeway Road and the northerly side of the River Road, formerly called Carlisle Road", by land of Callahan, of the Town of Billerica and of Margaret Kemp, "Being the same premises conveyed to Jason K. Hutchins by deed ... Book 143, Page 104", less a 0.137-acre lot on Bridge Street; and "a certain other piece or parcel of land ... on the northeasterly side of said Boston Road" between the Concord River, the River Road at the bridge, Boston Road and land of the Town of Billerica. Book 1025, Pages 568-569.
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| September 15, 1949 | Quitclaim Deed | The Inhabitants of the Town of Billerica, by the Board of Selectmen | Gustav Wagner and Helen J. Wagner, husband and wife, of Billerica | The Town sells Lot B, 5.4 acres behind the Wagner farm, to the Wagners | 1124/124 |
For consideration paid ($0.55 stamps), "the land in Billerica ... lying to the West of Boston Road," from a stone bound at land of the grantees and of Frank D. Foster et al, northwesterly by Foster 548.50 feet and by Felix Letendre et al 353 feet, to Lot 1, northeasterly 113.87 feet to other land of the Town, southeasterly 710 feet along that land and 471.94 feet along Lot No. 2 to the Wagner land, and southwesterly 249.24 feet to the beginning; "Containing 5.4 acres more or less and being all of Lot B" on a "Plan of Land in Billerica Surveyed for Board of Selectmen May 1949, J. B. Monahan" (Plan Book 76, Plan 25), with a six-foot right of way along the north side of Lot A, 313.82 feet to Boston Road. Signed Sept. 6, 1949 by the Selectmen William M. McNulty, John F. Monahan, Arthur C. Barnard, Frederic H. Brown and Arthur R. Hallenborg, with the Board's vote of the same day. This is the back part of the later Lot 3. Book 1124 Pages 124-125.
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| September 28, 1983 | Quitclaim Deed | Gustav Wagner and Helen J. Wagner, husband and wife, of Billerica | A Burlington developer (R. J. Kelly Company) | The developer buys the Wagner farm, 14.8 acres, for $300,000 | 2655/611 |
"For the full consideration of $300,000.00," "the land in said Billerica, with all the buildings thereon, now supposed to be numbered 267 Boston Road, situated on the Southwesterly side of said Boston Road, and shown as the greater part of the 9 acre lot on a Plan of Land in Billerica, surveyed for Gustav Wagner, November, 1949, James B. Monahan" (Plan Book 82, Plan 172), except the lots sold to C. Durso and Sons, Inc. in 1971 (Book 1957, Page 70) and to McDonald's Corporation in 1975 (Book 2173, Page 138) and the land taken "for the relocation of Bridge Street," and also Lot B of the 1949 Selectmen's plan (Plan Book 76, Plan 25), "Containing 5.4 acres, more or less." "Meaning and intending to convey ... all of the premises now owned by us on the southwesterly side of said Boston Road and acquired from Federal Farm Mortgage Corp., by deed dated March 1, 1945 ... Book 1025, Page 568 and from the Town of Billerica, by deed dated September 6, 1949 ... Book 1124, Page 124." See the Wagner plan by Fleming, Bienvenu and Associates, Sept. 28, 1983, 14.8 acres (Plan Book 141, Plan 21). Subject to a New England Power Service Company easement. Book 2655 Pages 611-612.
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| July 6, 1989 | Mortgage | A Burlington developer (R. J. Kelly Company) | Teachers Insurance and Annuity Association of America, of New York | The two finished buildings mortgaged to TIAA for $5,150,000 | 4941/268 |
Security Agreement and Mortgage Deed of July 5, 1989, "The address of the mortgaged property is: 267 Boston Road," to secure $5,150,000 with interest, due Aug. 1, 1999: "ALL those certain lots, parcels and pieces of land with buildings and improvements thereon erected or to be erected" in Exhibit A, Lots 2 and 3 on the title plan recorded the same day (Plan Book 169, Plan 134). The lender foreclosed in 1994 (Book 7554, Page 272). Book 4941 Pages 268-286.
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| June 7, 1993 | Board of Appeals Special Permit | Town of Billerica Board of Appeals | R. J. Kelly Company, for Bethel Christian Supply Center | Special permit of 1993 for the tenant Bethel Christian Supply Center | 6503/215 |
Certificate of Granting of Special Permit under General Laws Chapter 40A, Section 11, dated April 29, 1993, to "R. J. Kelly Company for Bethel Christian Supply Center," 267 Boston Road, affecting the rights of the owner in the land and buildings at 267 Boston Road, Plate 31 Parcel 5-1-3, recorded in Book 2655, Page 611-612; signed by John F. Gray Jr., chairman. A permit for a tenant of the second building. Book 6503 Pages 215-218.
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| October 12, 1994 | Board of Appeals Special Permit | Town of Billerica Board of Appeals | R. J. Kelly, for New England Mobile Communications | Special permit of 1994 for New England Mobile Communications | 7258/332 |
Certificate of Granting of Special Permit, dated Sept. 7, 1994, to "R. J. Kelly for New England Mobile Communications," of 55 Cambridge Street, Burlington, affecting the rights of the owner in the land and buildings at 267 Boston Road, Plate 31 Parcel 5-1-1, recorded in Book 2655, Page 611; John F. Gray Jr., chairman. Recorded Oct. 12, 1994, two months before the foreclosure. Book 7258 Pages 332-335.
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| July 14, 1995 | Foreclosure Deed | Teachers Insurance and Annuity Association of America, mortgagee | Teachers Insurance and Annuity Association of America, of New York | Foreclosure: the lender buys in Corporate Place for $2,030,000 | 7554/272 |
Massachusetts Foreclosure Deed by Corporation (Long Form): TIAA, "holder of a mortgage from" the developer "dated July 5, 1989," Book 4941, Page 268, "by the power conferred by said mortgage and every other power, for Two Million Thirty Thousand ... ($2,030,000.00) dollars paid," grants to itself "the premises conveyed by said mortgage." Dated Dec. 22, 1994 (per Book 8969, Page 38); recorded July 14, 1995 with the affidavit of sale. Book 7554 Pages 272-275.
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| December 24, 1997 | Quitclaim Deed | Teachers Insurance and Annuity Association of America | W9/TIB Real Estate Limited Partnership, a Delaware limited partnership of Irving, Texas | TIAA sells 261/267 Boston Road for $4,525,000 | 8969/38 |
For $4,525,000, "that certain parcel of land together with any buildings and improvements thereon, known as 261/267 Boston Road," described in Exhibit A, subject to easements, restrictions and reservations of record; "For title see Deed dated December 22, 1994, and recorded ... as Instrument No. 29182" (Book 7554, Page 272). Executed Dec. 5, 1997; recorded Dec. 24, 1997. Book 8969 Pages 38-40.
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| March 28, 2001 | Quitclaim Deed | W9/TIB Real Estate Limited Partnership (c/o Archon Group, L.P.) | Billerica Equity Partners, LLC (c/o Everest Partners, LLC, New York) | Sold for $5,950,000 to Billerica Equity Partners | 11478/100 |
For $5,950,000, "The land and all improvements thereon ... presently known as and numbered 267 (and an unnumbered parcel) Boston Road," Exhibit A: "the land together with the buildings and improvements thereon shown as Lot 2 and Lot 3" on the "Title Plan of Land, Lots 2 & 3, Boston Rd., Billerica, MA prepared for" the developer, May 22, 1989, revised June 13, 1989, Eastern Engineering Collaborative, Inc. (Plan Book 169, Plan 134), Lot 2 with 215.86 feet on Boston Road. "For Grantor's title, see Quitclaim Deed of Teachers Insurance and Annuity Association of America ... Book 8969, Page 38." Executed March 26, 2001. Book 11478 Pages 100-105.
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| December 11, 2008 | Quitclaim Deed | Billerica Equity Partners, LLC, of New York | Boston Road Investors, LLC, a Delaware limited liability company of Baltimore | Sold for $7,900,000 to Boston Road Investors | 22595/239 |
For $7,900,000, the parcel "together with any buildings, improvements and fixtures thereon" in Exhibit A (267 Boston Road and an unnumbered parcel), subject to the 2003 PNC Bank mortgage of $6,700,000 (Book 14456, Page 185), assigned to Wells Fargo Bank Minnesota as trustee for a Credit Suisse First Boston commercial mortgage pass-through trust (Book 16534, Page 291), whose balance of $6,195,271.57 the buyer assumed under a Consent and Assumption Agreement recorded herewith; excise stamps were paid on the difference. Book 22595 Pages 239-245.
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| April 7, 2016 | Quitclaim Deed | Boston Road Investors, LLC, a Delaware limited liability company | 267 Boston Road, LLC, a Maine limited liability company (c/o RAM Management Co., LLC, Scarborough, Maine) | The RAM Companies buy Corporate Place for $8,100,000 | 29936/40 |
For $8,100,000 and other consideration, "the tract or parcel of land" in Exhibit A "together with (a) all improvements located thereon, but expressly excluding improvements and structures owned by any tenant or any other third party," with all rights and strips and gores, subject to the Permitted Exceptions. The buyer is an affiliate of The RAM Companies of Scarborough, Maine, which bought Corporate Place, 97,403 square feet at 261 and 267 Boston Road, 85 percent leased. Book 29936 Pages 40-45.
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| April 22, 2020 | Quitclaim Deed | 267 Boston Road, LLC, a Maine limited liability company | Babar, LLC, as Trustee of 267 Boston Road Realty Trust, of Quincy | Sold for $11,975,000 to 267 Boston Road Realty Trust, the present owner | 34046/198 |
For $11,975,000 and other consideration, the tract in Exhibit A with all improvements, "but expressly excluding improvements and structures owned by any tenant or any other third party," subject to the Permitted Exceptions, to Babar, LLC as trustee of 267 Boston Road Realty Trust under a declaration of April 9, 2020 (trustee's certificate recorded herewith), 1900 Crown Colony Drive, Quincy. Electronically recorded April 22, 2020. The current owner. Book 34046 Pages 198-201.
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Recorded is Book/Page at the Middlesex North Registry of Deeds unless noted.