Watertown IT Firm To Purchase 11-Bldg. Office Portfolio
Harvard University agreed to sell Arsenal on the Charles, an 11-building complex on Arsenal Street in Boston’s Waltham/Watertown submarket, to local health care IT firm Athenahealth (Nasdaq: ATHN
) for approximately $222 per square foot or $169 million.
The trade of the 29-acre, 760,000-square-foot complex is scheduled to close mid-2013.
O'Neill Properties Group and Prudential Real Estate Investors sold the portfolio to Harvard in 2001 for $162 million.
Athenahealth currently houses its headquarters in approximately 330,000 square feet of office space in two of the Arsenal buildings.
Steve Cook of Avison Young represents the buyer.
For additional details, see CoStar Property #112179.