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Boston Properties Acquires Development Rights

WALTHAM, MA-Boston Properties purchases the development rights for an eight-story building here overlooking Route 128. Nelson Cos,, which formerly controlled the property, took the development of the 200,000-sf building through its permitting process.

By Naomi Grossman | Updated on March 13, 2001

WALTHAM, MA-Boston Properties purchased the development rights for an eight-story building overlooking Route 128 here. The property was formerly controlled by the Nelson Cos., which received permits to develop the 200,000-sf building.

A Boston Properties spokesperson confirms for GlobeSt.com that the company has purchased the development rights but declined to disclose the purchase price. Unconfirmed reports put the amount at $13 million or $63 per sf.

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