Case Study: Needham Corporate Center

Details

  • Property: 320 Needham Street
  • Location: Newton, MA
  • Opportunity: Under-utilized and obsolete, single-tenant R&D/office building in a highly desirable location
  • Property Type: Office/Lab
  • Acquisition Date: March 2000
  • Size: 41,083 sf

Strategy

Acquire an under-utilized and obsolete, single-tenant R&D/office building in a highly desirable Newton location just one mile off Route 128 and in walking distance to area amenities. Build consensus on sale with dissenting principals by offering one of the dissenting principals cash and the other equity (structured, as a tax free contribution).

Added Value

Renovated and repositioned the asset into a first-class multi-tenant office and lab building.

Leased to top tier life science tenants.