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Joint Venture Acquires Prospect Hill Property

WALTHAM, MA-Boston Properties and Criterion Development Partners acquire a 32,530-sf flex building in Waltham's Prospect Hill.

By Beverly Ford | Updated on November 09, 2006

WALTHAM, MA-A joint venture partnership between Boston Properties and Dallas-based Criterion Development Partners has taken ownership of a 32,530-sf flex building on 2.3 acres in Waltham’s Prospect Hill. The JV acquired the property from Eastport Real Estate Services and plans to turn the vacant one-story property into a mixed-use project.

Jack Englert, executive vice president with Criterion, tells GlobeSt.com that the 99 Third Ave. building, acquired under the entity BP 99 Third Avenue LLC, has good frontage and visibility along Route 128 and has the potential to be redeveloped for mixed use in one of the hottest locations along that highway.

“It is one of the premier locations in the Northeast and in the heart of the high tech corridor,” Englert says.

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