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Monthly Archives: October 2014

ND and CRRI buy 208,000 sf office building in Westwood, MA with JV partners

A joint venture of National Development/Charles River Realty Investors, New England Development and Eastern Real Estate announced the acquisition of 105 Rosemont, a 208,134 square-foot office building in Westwood, MA. 105 Rosemont is a vacant, three-story office building, once fully leased to State Street Corporation, that will be repositioned to meet the demands of today’s office tenants. The building offers large, flexible floor plates with space ranging in size from 25,000 to 208,134 square-feet.

The property is situated adjacent to University Station, which is also owned in part by the four partners in this transaction, and will be linked to the mixed-use, retail-focused development by a pedestrian connection. University Station, opening in early 2015, will feature 750,000 square-feet of retail, including Wegmans, Target, Nordstrom Rack, Sports Authority, and multiple new fast casual and high end restaurants. There will also be a state-of-the-art 135,000 square-foot Lifetime Fitness facility.

105 Rosemont has easy access from Route 128/I-95. The office building is also a short walk to the Amtrak/MBTA Route 128 Station, which offers commuter rail service to downtown Boston in 16 minutes and high speed Amtrak service to Providence, New York and Washington. This unique combination of strong demographics, amenities, unparalleled access and scenic views make 105 Rosemont an ideal office location for a wide range of local and national companies.

The new ownership will be making a significant capital investment to upgrade the building which will include a complete renovation of the main lobby to include a new café, fitness center and locker rooms, new glass curtain wall facade and outdoor landscape and signage enhancements. The new lobby will feature a green wall and stadium seating. The building is in the process of being re-branded as part of this extensive transformation and is available for immediate occupancy. Cushman & Wakefield is handling the leasing for the ownership group.