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Four-Building Industrial Portfolio Trades for $21M

NEEDHAM, MA-A joint venture group has acquired four industrial buildings set in the heart of the New England Business Center for $21 million.

By Beverly Ford | Updated on November 29, 2006

(To read more on the industrial market, click here.)

NEEDHAM, MA-A joint venture group that includes the developer of the $1.5-billion Westwood Station project has acquired a four-building industrial portfolio here in a $21-million trade. The deal gives the new owners 193,744 sf of key holdings in the midst of the New England Business Center.

Westwood Station developer Cabot, Cabot & Forbes, of Boston, joined forces with Wilton, CT-based Commonfund Realty to make the purchase from OMSH-Needham Holding Co. LLC during a hotly contested bidding process that brought in nine offers in the roughly six weeks the portfolio was on the market.

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