Newton Wellesley Executive Office Park
Update
01/27/22
Acquisition
Office
Route 128 Office Park Acquired for $36.5 Million
Newmark announces the $36.55 million sale of Newton Wellesley Executive Office Park, a four-building office and medical office campus that is located in the suburban Boston community of Wellesley, Massachusetts. Newmark Co-Head of U.S. Capital Markets Robert Griffin, Executive Managing Director Frank Nelson and Senior Managing Director Michael Greeley of the firm’s Boston Capital Markets Group represented the seller, The Nelson Companies, and procured the buyer, . Newmark Senior Managing Director Daniel Krysiak provided local leasing expertise, Senior Financial Analyst Nickolas Revers provided financial analysis support and Associate Allie Percoco provided transactional support.
Totaling 129,872 square feet, Newton Wellesley Executive Office Park is presently 93% leased to a diverse rent roll anchored by a combination of longstanding office tenants and recently-signed medical office users.
“With its exceptional location, Newton Wellesley Executive Office Park has long been a highly-desirable address for the area’s prominent office tenants, and increasingly in recent years, top physician groups in the market,” said Greeley. “Many of the region’s premier medical providers, including several clinical affiliates of nearby Newton-Wellesley Hospital, call the park ‘home’ and we expect that trend to continue in the coming years.”
Newton Wellesley Executive Office Park comprises four addresses—40, 60, 62 and 70 Walnut Street—along the region’s premier Interstate 95/Route 128 corridor. The assets are also conveniently located just one mile from Mass General Brigham’s 273-bed Newton-Wellesley Hospital.
