Transwestern Opting to Trade Newton Asset

NEWTON, MA-Real estate buyers seeking opportunities need go no farther than the first suburban Boston exit west on Interstate 90, as a prominent office/retail building and parking garage in Newton Corner is being offered up for sale. Chicago-based Transwestern Investment Co. will harvest 313 Washington St., brokers retained for the assignment have told GlobeSt.com.

“It’s a good, stable investment,” Richards Barry Joyce & Partners EVP Richard Herlihy says in describing the 82,000-sf property that is expected to draw bids around $250 per sf, or in the mid-$20 million range. RBJ is anticipating a solid response for a number of reasons, says Herlihy, including Newton Corner’s reputation as an established business address. Besides 313 Washington St., the exit features Two Newton Place, a three-story, 108,000-sf building known for years as the headquarters of Cahner’s Publishing. Newton Corner is between Downtown Boston and the core Route 128 Central beltway, notes Herlihy, who is working with RBJ colleague Richard Bradbury on the sale. The business district also has a Sheraton Hotel and several prime restaurants.