Sunday, October 18, 2015

$52.5 million sale and acquisition financing closed by HFF for Waltham, MA Class A office property

1025 and 1075 Main Street, Waltham, MA
Coleman Benedict

 BOSTON, MA –Holliday Fenoglio Fowler, L.P. (HFF) announced it has closed the sale of and arranged acquisition financing for 1025 and 1075 Main Street, two Class A office properties totaling 303,460 square feet in Waltham, Massachusetts, a suburb of Boston.

HFF exclusively represented the seller, an affiliate of KBS Real Estate Investment Trust, Inc., in the transaction and procured the buyer, an affiliate of The Davis Companies.  Additionally, HFF worked on behalf of the new owner to secure the seven-year acquisition loan through Brookline Savings Bank and First Niagara Bank.   Gramercy Property Trust, as asset manager, advised KBS on the transaction.

 1025 and 1075 Main Street are situated along Route 20 in Waltham, less than a mile from Route 128/Interstate 95 and less than 15 minutes from downtown Boston.  The property has mass transit access via two MBTA commuter rail stops as well as several MBTA bus lines nearby.  Originally built by BayBank in 1980 as the bank’s major operations center, the property has served similar functions for BankBoston, Fleet and Bank of America, who was the anchor tenant at the property.

 Additional tenants include Citizens Disability and The Cambridge Institute of International Education.  1025 and 1075 Main Street offer tenants a cafeteria, fitness center and parking in a four-level parking garage below 1075 Main.  

Ben Sayles
The HFF investment sales team representing the seller was led by senior managing director Coleman Benedict and director Ben Sayles.

The HFF debt placement team was led by senior managing director Riaz Cassum and director Brett Paulsrud.

“Waltham has emerged as one of Boston’s strongest suburban office markets and it is also experiencing one of the most significant building booms of the last 30 years, welcoming 14 new restaurants, more than 1,600 hotel rooms and several major mixed-use developments including City Point and 1265 Main Street,” said Sayles.  

“With this latest generation of office product and the associated retail components, Waltham will be able to offer the most demanding tenants an amenity-rich environment that is unparalleled in the marketplace.”

For a complete copy of the company’s news release, please contact:

Kristen M. Murphy
Associate Director
HFF | One Post Office Square, Suite 3500 | Boston, MA 02109
Main: 617-338-0990 | Direct: 617-848-1572 | Cell: 617-543-4873 |

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