Rare opportunity to acquire approximately 60,000 SF of stabilized multi tenanted office and flex buildings.
Boston Realty Advisors is pleased to present the opportunity to purchase 175 Highland Avenue and 77 Charles Street/19 Wexford Street in Needham either individually or as a package. This is a rare opportunity to acquire approximately 60,000 SF of stabilized multi tenanted office and flex buildings with long term development potential on 2.25 acres of land in one of the strongest suburban office markets in New England.
175 Highland Avenue is a 40,000 SF four story office building with a two story covered parking deck on the first two floors on 1.19 acres. Often referred to as “the AAA building”, 175 Highland Avenue is one of Needham’s most recognizable office buildings. The four story building has benefited from a recent capital improvement campaign, which included updates to the common areas and bathrooms. Just steps from Rt. 95, tenants have historically chosen to lease space at the building for its tremendous access North, South and West.
77 Charles Street, also known as 19 Wexford Street, due to its frontage on both streets, is a fully leased 20,000 Flex building. A portion of the building was recently leased to Golf Tec and other tenants are Fast Splits, G Medical and Pure Performance. The flexible buildings offers both flex and quazi retail tenants a great The flexible buildings offer both flex and quazi retail tenants a great leasing option with visibility and their own entrance identity and flexible floor plan.
Value-add upside exists with rental rate upside as well as a mixed use residential/retail development within the Town of Needham’s upzoned district.