Barings and Greatland Acquire 275 Grove Street

Barings, one of the world’s largest diversified real estate investment managers, today announced that they have partnered with Greatland Realty Partners to acquire 275 Grove Street in Boston MSA’s premier 128 West submarket. Located adjacent to Riverside Station at the western terminus of the MBTA Green Line, the property offers nearly 510,000 square feet of best-in-class office space, with an opportunity to convert into office and lab space.

Property records list the sale price at $117,500,000, a significant decrease from the $235,000,000 Alexandria paid for the property in January 2020.

“We are pleased to continue growing our presence in greater Boston with the acquisition of 275 Grove Street. We consider this project to be the best of its kind as it offers an unparalleled location in terms of accessibility and high-quality physical attributes that serve to attract top tier employers. The asset’s high occupancy since its development is proof of its strong positioning in the market,” said Kevin Miller, Head of Real Estate Acquisitions for the Eastern U.S.

The three-building campus, connected by a central atrium, is located at the intersection of I-95 and I-90, and includes onsite amenities such as a brand-new Kendall Café restaurant. The building occupants consist of leading health care, technology and innovation economy companies, including Siemens, Tech Target, Atrius Health and Parexel.

“275 Grove Street provides high-quality workspace for Boston’s top innovation-oriented companies, in a central location with access to public transit. We are excited to partner with Barings on this investment, which is a perfect complement to Greatland’s current portfolio of buildings in the market,” said Steve Spinale, Head of Investments and Capital Markets for Greatland Realty Partners.

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