Case Studies

Case Study: 250 First Avenue


Property: 250 First Avenue

Property Type: Office

Location: Needham, MA

Size: 73,167 SF


Bulfinch identified the Allen Furniture Warehouse in Needham as an opportunity to acquire an under-utilized property with tremendous visibility on Route 128/I-95 and reposition the property into a first-class office building.


Bulfinch’s strategy included acquiring the furniture warehouse by agreeing to close in 10 days and leaseback the property to the retailer in order to conduct a lucrative liquidation sale. By commencing with a speculative construction quickly, Bulfinch was able to beat competitors to the market and capitalize on the Route 128 frontage. Bulfinch successfully developed the 25,000 SF furniture warehouse into a 75,000 SF state-of-the-art first-class office building with garage parking and superior signage opportunities for building tenants. Construction was completed in under six months and was 100% leased upon completion.