BULFINCH EXPANDS NEEDHAM PORTFOLIO
BOSTON, MA – January 4, 2022
Bulfinch, a private real estate investment, development and management firm, today announced that an affiliate of the Company has completed the acquisition of 53 and 115 Fourth Ave in Needham, MA.
Totaling approximately 135,000 SF of life science and industrial space, both buildings are 100% leased. The 8 +/- acre parcel is strategically located in the Needham Crossing Innovation District adjacent to Bulfinch’s 117 Kendrick Ave 213,000 SF lab and office property.
“Fourth Ave’s extremely desirable location in Needham Crossing and its proximity to Bulfinch’s properties and future development projects made the assets an excellent investment and addition to our diversified portfolio,” said Eric Schlager, CEO of Bulfinch. “Bulfinch has maintained a long and close relationship with the Town of Needham dating back more than 25 years with our development of 250 First Ave, the company’s former corporate headquarters, in the mid-1990s, and we are excited to add this premier location to our existing Needham portfolio.”
Bulfinch also acquired the former Muzi Ford Dealership on Highland Ave in late 2021 with plans to redevelop the 10 +/- acre site into a new state-of-the-art facility to support market demands for life science, research and development space. The site’s highly visible location on Rt 128/ 95 is an attractive opportunity for a headquarters location at the gateway to Needham. The site benefits from its close proximity to the MBTA Commuter Rail, under a mile away, as well as recent area infrastructure improvements including an additional RT 128/ 95 lane, new bike lanes and bridge widening, all of which support more commuting options and enhance the commuter experience for future tenants.
Bulfinch’s recent acquisitions add to the company’s growing portfolio and are consistent with the firm’s vision of acquiring and developing premier life science, office and industrial properties in Greater Boston’s core markets.