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Outshine Properties, Jadian Capital Buy Office Building Near Boston, Plan Life Sciences Conversion

690-Canton-St.-Westwood-Massachusetts

The new owners of the office building at 690 Canton St. in Westwood, Massachusetts, plan to convert the property into a life sciences facility with 140,000 square feet of lab space.

WESTWOOD, MASS. — A partnership between two New York City-based investment firms, Outshine Properties and Jadian Capital, has acquired a 164,695-square-foot office building in the southern Boston suburb of Westwood with plans to convert the property to a life sciences facility. The sales price was $32 million. The four-story building is currently 73 percent leased to seven tenants. Robert Griffin, Edward Maher, Matthew Pullen and Samantha Hallowell of Newmark represented the seller, L&B Realty Advisors, in the transaction. William Sleeper, also with Newmark, arranged acquisition financing for the deal through J.P. Morgan. The new ownership expects to deliver 140,000 square feet of prebuilt lab space in the second quarter of 2023.

Content Partners
‣ Arbor Realty Trust
‣ Bohler
‣ Lee & Associates
‣ Lument
‣ NAI Global
‣ Northmarq
‣ Walker & Dunlop

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