Boston Properties Acquires 392,600 SF Office Complex in Massachusetts for $106M
WALTHAM, MASS. — Boston Properties Inc. (NYSE: BXP) has acquired 880 and 890 Winter Street, a two-building, 392,600-square-foot office complex in Waltham, a suburb of Boston. The all-cash deal fetched a sales price of $106 million.
The complex was 82 percent leased at the time of sale to 24 tenants in the healthcare, technology and energy sectors. Amenities include a two cafés, an outdoor seating area, a fitness center and a conference center.
The 28-acre property is situated adjacent to Bay Colony, Boston Properties’ 1 million-square-foot business park.
Following this acquisition, Boston Properties owns more than 4 million square feet of Class A office space in Waltham. The company owns and manages more than 5 million square feet of commercial space along the Route 128/Interstate 95 corridor in the Boston suburbs.
“Waltham continues to be one of the region’s most desirable urban edge locations for organizations that want to attract and retain highly educated associates,” says Bryan Koop, executive vice president at Boston Properties. “The 880 and 890 Winter Street campus provides both location and amenities that offer long-term value for current and prospective tenants.”
Boston Properties is one of the largest developers and owners of Class A office space, with operations concentrated in Boston, Los Angeles, New York, San Francisco and Washington, D.C. The firm’s stock price opened at $129.84 per share on Monday, Sept. 9, essentially unchanged from a year ago.
— Taylor Williams