Winter Street – Sold
|Address||840 Winter Street
Waltham, MA (Boston, MA)
|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||90.10%|
|Average Annual Return||94.4%|
Highlights & Amenities:
- 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.
- 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, has an attractive discount in rental rates compared to the Cambridge lab market which has extremely low vacancy and best-in-class buildings achieving upwards of $120 per square foot net.