Transwestern Represents Seller of Office, Laboratory and R&D Space
Transwestern announces it brokered the disposition of a three-building portfolio in Waltham, Massachusetts, for $14 million. Transwestern Partner Chris Skeffington and Vice President Roy Sandeman negotiated the sale on behalf of Taurus Investment Holdings and sourced the buyer, a joint venture between Parsada Ventures and KHS Management.
The buildings are located at 150 Bear Hill Road, 335 Bear Hill Road and 300 Second Ave. in the Bear Hill Business Park and consist of 65,200 square feet of office, laboratory, and research and development space. Taurus Investment Holdings purchased the buildings in 2014 as part of an eight-building portfolio that included 60 and 69 Hickory Drive and 255, 300, and 303 Bear Hill Road.
“By successfully stabilizing and divesting this three-building portfolio, Taurus has made a strategic decision to focus on the remaining office buildings, which are well-positioned to capitalize on the strong leasing momentum in the Waltham office market,” said Skeffington. “Similarly, the buyers have acquired an attractive portfolio that positions them well as they expand their commercial presence in Greater Boston. The buildings will appeal to a variety of tenants in search of highly functional and flexible space that is centrally located in Waltham’s dynamic market.”
Bear Hill Business Park is located approximately 2 miles from Route 128 and less than a half-mile from 1265 Main, a 280,000-square-foot retail and office redevelopment located on the former Polaroid campus. The project is home to the domestic headquarters of Clarkes Shoes and features retailers such as Market Basket, Flank Restaurant, Starbucks, Marshalls and Not Your Average Joes.
ABOUT TAURUS INVESTMENT HOLDINGS
Taurus Investment Holdings, LLC (“Taurus”) is a global investor, developer, and operator with a pervasive regional market network that leverages its diversified capital and operational infrastructure to capitalize on exclusive commercial and residential real estate opportunities. For more information, please visit www.tiholdings.com.
ABOUT TRANSWESTERN
Transwestern is a privately held real estate firm of collaborative entrepreneurs who deliver a higher level of personalized service – the Transwestern Experience. Specializing in Agency Leasing, Management, Tenant Advisory, Capital Markets, Research and Sustainability services, our fully integrated global enterprise adds value for investors, owners and occupiers of all commercial property types. We leverage market insights and operational expertise from members of the Transwestern family of companies specializing in development, real estate investment management and research. Transwestern has 34 U.S. offices and assists clients through more than 180 offices in 37 countries as part of a strategic alliance with BNP Paribas Real Estate. Experience Extraordinary at transwestern.com and @Transwestern. For updates from the Boston office, follow @TranswesternBOS.
