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

MSA

Boston/NE

Property Type

One Healthcare, Wellness Office Building

Strategy

Value-Add

Square Footage

135,332 square feet

Primary Tenant

Town Sports International (TSI)

Acquired

December 31, 2019

Syndicated

December 27, 2019

Sold

January 20, 2021

Internal Rate of Return (1)

89.3%

Average Annual Return (2)

94.7%

Equity Multiple (3)

2.08x

Photo of Tritower Financial 840 Winter Street property
  1. Internal Rate of Return is a financial metric, representing the average yearly return that takes into account the timevalue of money.
  2. Average Annual Return is the total investor return divided by the number of years in the actual holding period of the investment.
  3. Equity Multiple is a simple ratio showing how much total cash an investor gets back for every dollar they put into an investment over its lifetime by dividing the total cash distributions received by the total equity invested.

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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