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New Boston Fund Acquires Community Newspaper's HQ

NEEDHAM, MA-New Boston Fund purchases 254 Second Ave. for $10.9 million. The 85,890-sf building is fully leased to Community Newspaper Co., a consortium of local community newspapers and a subsidiary of the Boston Herald, which uses it as its corporate headquarters.

By Naomi Grossman | Updated on June 16, 2004

NEEDHAM, MA-New Boston Fund, a Boston-based real estate investment, development and management firm, purchased 254 Second Ave. for $10.9 million. The 85,890-sf facility is fully leased to Community Newspaper Co., a consortium of local community newspapers and a subsidiary of the Boston Herald.

The building serves as corporate headquarters for Community Newspaper Co. The deal was brokered by Spaulding & Slye Colliers, and the purchase price amounts to $127 per sf.

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