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AEW Makes Play for 101 Station Bldg. in Westwood

National Development, Charles River Realty Sell Recently Renovated, Fully Leased Office Bldg. for $53 Million
March 5, 2018
AEW Capital Management, on behalf of one of its institutional separate account clients, finalized a deal with National Development and Charles River Realty Investors to acquire 101 Station Dr. in Westwood, MA for $53.1 million, or about $250 per square foot.

The 208,134-square-foot, three-story office building is less than two years removed from a multi-million dollar value-add initiative, which added an on-site café, fitness center, outdoor lounge, bicycle rental station and a shuttle service to nearby shops and the MBTA/Amtrak station.

Currently, the building is fully leased to eights tenants including General Dynamics, Mott MacDonald, The Predictive Index, Boston Children’s Hospital and Honeywell.

Constructed in 1985, the property is situated minutes from the I-95/I-93 interchange adjacent to University Station, a recently completed, two million-square-foot mixed-use development home to retail, dining and residential space.

Newmark Knight Frank's Capital Markets Boston office, led by U.S. Head of Capital Markets Robert Griffin, Vice Chairman Edward Maher, Executive Managing Director Matthew Pullen, Director James Tribble and Associate Director Samantha Hallowell, in conjunction with Newmark Knight Frank Executive Managing Director Michael Frisoli and Managing Director Peter Whoriskey, represented the selling venture in negotiations.

Please refer to CoStar COMP #4155193 for more information on the transaction.
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