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| 1025 and 1075 Main Street, Waltham, MA |
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| 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.
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| 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 | www.hfflp.com
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