NEW BOSTON FUND SELLS PREMIER OFFICE BUILDING IN METRO BOSTON

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WALTHAM, MASS. — New Boston Fund Inc. has sold Watermill Center in Waltham, a suburb of Boston. Intercontinental Real Estate Corp. purchased the property for an undisclosed sales price. Constructed in 1984, Watermill Center is a six-story, 206,634-square-foot, Class A office building. Since purchasing the property in March 2000, New Boston has boosted the occupancy from 67 percent to 90 percent, with 150,000 square feet having been leased in the past nine months. Additionally, New Boston completed extensive upgrades and improvements to enhance the building’s entrance and main lobby, and has added several amenities. Robert Griffin, Edward Maher and Matt Pullen of Cushman & Wakefield represented New Boston in the transaction.

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