Anchor Line Partners acquired Lowell’s Cross Point in 2014 for $100 million. Sold in January of 2018, for $227.2 million resulting in a 22.6% IRR. The three-tower complex, formerly known as the Wang Towers, stands at the intersection of Route 3, Interstate 495, and the Lowell Connector. The property was 72% leased at the time of purchase.

Anchor Line undertook a major capital campaign to transform Cross Point into a 21st-century campus. Improvements included branding, signage, lobby renovation, landscaping, new café, fitness center with gaming and golf simulation, and the addition of a local favorite restaurant, Tavern in the Square.

Under ALP’s leadership, CrossPoint has evolved into a property that meets the demands of the modern workplace. Far from the suburban office building of yesterday, it features light-filled spaces and vibrant colors while promoting social interaction and work-life balance.

CrossPoint continues to have an impressive array of corporations including UKG. IBM, Arris, Jabra, and Allstate.

www.crosspointma.com