W. P. Carey Inc., a New York firm specializing in lease-back financing and other real estate services, said Wednesday that it has paid $47 million to buy a facility leased by Bose Corp. in Westborough Technology Park.
The seller of the nearly 251,000-square-foot office facility was Columbia Property Trust.
Bose is known for its audio systems. The Westborough facility is located about eight miles away from Bose’s corporate headquarters in Framingham. The Westborough facility houses Bose’s sales operations.
“Over the last 18 months, Bose has invested in the facility to construct a state-of-the-art film production space and sound studio used for Bose’s commercial marketing efforts,” W. P. Carey said in its press release.
In a statement, W. P. Carey managing director and co-head of global investments Gino Sabatini said,‘‘The Bose building is a well-located real estate asset leased to a quality tenant; the 11-year lease and recent investment by Bose affirms their commitment to the facility.”
Sabatini added: ‘‘As core Boston submarkets have become saturated, tenants have begun to push further out into suburban Route 128 and 495 locations, searching for higher quality real estate with lower rents and good accessibility. The 495 West/Mass Pike West submarket has demonstrated an increasing level of stability in recent years, along with declining vacancy. Additionally, the submarket is home to a very large base of high-technology space and financial firms, including BNY Mellon Wealth Management, Integrated Genetics, PF PC Inc., Amica Mutual Insurance, Astra Zeneca, and E Clinical Works.’’
Chris Reidy can be reached at reidy@globe.com.