Search
 

Transwestern Opting to Trade Newton Asset

NEWTON, MA-Bidding is anticipated in the mid-$20 million range for the 82,000-sf office/retail building and garage.

By Joe Clements | Updated on February 08, 2008

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.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.