Boston—Newmark announced the $129 million sale of 225 & 235 Presidential Way, a two-building office/research complex occupied by Raytheon Technologies and located in the Boston suburb of Woburn, Massachusetts.
Alexandria Real Estate Equities Inc. purchased the property.
Robert Griffin, co-head of Newmark’s U.S. Capital Markets, Vice Chairman Edward Maher, Executive Managing Director Matthew Pullen and Managing Director Samantha Hallowell of the firm’s Boston Capital Markets Group represented the seller, Piedmont Office Realty Trust , and recruited the buyer. Newmark’s senior financial analyst, William Sleeper, provided financial analysis support.
Comprising 440,130 square feet in two interconnected buildings, 225 and 235 Presidential Way house critical support functions for one of Raytheon Technologies’ four business segments: Raytheon Missiles & Defense.
“225 and 235 Presidential Way have permanent leases, with Raytheon Technologies having been located on the site since 2004,” Maher said. “The institutional-grade campus is fully customized to its needs, with state-of-the-art infrastructure, highly visible signage overlooking Interstate 93, and on-site amenities including a fitness center, full-service cafeteria , conference / meeting rooms and two structured car parks.
In addition to its access to Interstate 93, 225 & 235 Presidential Way is located just two miles north of Interstate 95, adjacent to the Anderson/Woburn Transportation Center, 15 minutes from Boston and the New York border. Hampshire and 20 minutes from Raytheon Technologies headquarters in Waltham, Massachusetts.
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