$120 Million Deal Brewed in Burlington

Burlington developer Gutierrez Co. has sold the Keurig Green Mountain office complex at 53 South Ave. in Burlington, Mass., to Cole Office & Industrial REIT for $119.8 million, according to Banker & Tradesman.

The project was built in two phases, with 115,700 square feet of office and research space constructed in 2013, later followed by a 280,560-square-foot office segment and 875-space parking garage completed in 2014, according to the report.

Final Beam Placed on New Keurig Headquarters with ‘Topping Out’ Ceremony

Keurig and Burlington worked out a tax incentive agreement that was approved by Town Meeting in May of 2012. Keurig, a division of the Green Mountain Coffee Roasters, currently has its headquarters in Reading.

“This project represents the successful fruition of cooperative efforts between The Gutierrez Company and the Town of Burlington since Town Meeting approval and shows what can be accomplished when we work together,” said Scott Weiss, Managing Director of Commercial Development for the Gutierrez Company, in 2013.