Winter Street – Sold

Properties

Winter Street – Sold

The Property consists of a 135,332 square feet healthcare and wellness center located at 840 Winter Street, Waltham, Massachusetts. Located on the former headquarters campus of the legendary Polaroid Corporation in Waltham overlooking the Cambridge Reservoir, the submarket continues as Boston’s leading suburban corporate destination with buildings owned by large institutional investors such as Boston Properties, Prudential, AEW and Morgan Stanley and occupied by well-known defense, research and technology companies like Raytheon, Mass Medical Society, Astra Zeneca, Alkermes, Immunogen and Genzyme.

Property Details

Address

840 Winter Street Waltham, MA (Boston)

Property Type

One Healthcare, Wellness Office Building

Square Footage

135,332 square feet

Primary Tenant

Town Sports International (TSI)

Acquired

December 31, 2019

Sold

January 20, 2021

Syndicated

December 27, 2019

Internal Rate of Return

89.3%

Average Annual Return

94.7%

Equity Multiple

2.08x

Internal Rate of Return

Highlights & Amenities

840 Winter Street is part of the Central 128 Life Science Corridor.

A prominent innovation cluster of bioscience and lab space within Greater Boston.

This inner-suburban submarket, with a newly bolstered amenity base, offers an attractive discount in rental rates compared to the Cambridge lab market.

The Cambridge lab market has extremely low vacancy and best-in-class buildings achieving upwards of $120 per square foot net.

Location

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Notable Tenants

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