Cabot, Cabot & Forbes, partner sell Norwood office building

Boston developer Cabot, Cabot & Forbes and partner Commonfund Realty Inc. said today they have sold a Norwood office building for $28.8 million to KBS Real Estate Investment Trust of California.

The two-story building at 825 University Ave. has 166,574 square feet of space, and it is currently 100 percent leased, Cabot, Cabot & Forbes said. Instron Corporation and LTX Corporation are both long term tenants in the building.

After purchasing a then vacant site in late 2003, Cabot, Cabot & Forbes said it undertook an extensive reconstruction and expansion that resulted in a facility that brought 500 jobs to Norwood.

"As a long-term investor and good corporate citizen, KBS Real Estate Investment Trust can be counted on to maintain the high quality of 825 University Ave. and its tenants," Jay Doherty, president of Cabot, Cabot & Forbes, said in a statement.
(By Chris Reidy, Globe staff)