Bulfinch Completes $9.875 Million Sale of 50 Cabot Street
NEEDHAM, MA March 15, 2015—The Bulfinch Companies, Inc., a private real estate investment, development and management firm announced the completion of the $9.875 Million sale of One Needham Place at 50 Cabot Street, an approximately 42,000 sf two-story office building located directly off Route 128/I-95 in Needham, Massachusetts, to RK Needham, LLC who will make 50 Cabot Street their new corporate headquarters.
Andrew Sacher of AIS Development Inc. represented RK Needham, LLC, while Michael B. Wilcox, SVP, Director of Leasing represented Bulfinch in the transaction.
“We felt that Needham and the asset was an excellent choice for our office. It is centrally located to our portfolio of properties and has great access and amenities”, said Kenneth Fries of RK Centers. “The MADOT “Add a Lane" project will create a new off-ramp from Route 128 that will lead directly into the park and will further improve ingress and egress”.
Bulfinch purchased the property in August 2012 to complement its Needham portfolio due to its location, consistent tenancy, and tremendous visibility. Because the property sits directly off Route 128/I-95 at the gateway to Needham Crossing in the N2Corridor, Newton/Needham’s technology hub, it is an ideal headquarters location propelling the sale of the property to a user/buyer.
“This was a great opportunity for RK Needham to purchase a quality asset for their new headquarters, and we welcome RK into the Needham Crossing neighborhood.” said Eric Schlager, CEO at Bulfinch. “Bulfinch is pleased to have closed an extremely smooth transaction, and continues to pursue value-added opportunities that complement and enhance our portfolio in the Greater Boston market.”