Newton's Most Iconic Office Building For Sale
Boston Realty Advisors is pleased to present 233 Needham Street, a rare opportunity to acquire a Class A mixed-use property located in Newton, Massachusetts. Known as “Paragon Towers”, this iconic five-story 60,826 RSF building includes four floors of office above ground floor retail space, anchored by Bank of America. Currently 100% leased with a diverse, 16-tenant roster, 233 Needham Street offers investors a fully-stabilized generational asset in a thriving suburban submarket. Value-add upside exists with a majority of the rent roll at below market rents.
Paragon Towers, arguably Newton’s most recognizable office building, has benefited from a recent capital improvement campaign, which included updates to common areas, kitchen/lounge, on-site fitness center and the structured covered parking garage. 233 Needham Street puts everything office users want at their fingertips with unmatched walkable amenities and superior commuter accessibility.
The asset is ideally positioned in the heart of one of the most exclusive and affluent residential communities in New England. The combination of excellent schools, convenient public transportation and abundant retail destinations make Newton one of the most desirable communities in Massachusetts. This well-heeled suburb is also recognized for its expanding infrastructure and close proximity to Boston, all within the N2 Innovation District which has an abundance of both emerging innovative companies, educational institutions and established employers including Trip Advisor, Shark Ninja, PTC, Harvard Vanguard Medical Associates, Mount Ida College and Olin College.
233 Needham Street is offered for sale on an unpriced basis. We will be conducting tours of the property in the upcoming weeks with a “call-for-offers” to follow.
For more information, visit ParagonTowers.com