WATERTOWN, MA—Farley White Interests of Boston has sold the Riverworks Innovation Center office complex here to San Francisco-headquartered Spear Street Capital for $43 million.
The transaction was announced by brokerage firm Cassidy Turley, which represented Farley White Interests in the deal.
The center, located at 480 Pleasant St., is composed of three interconnected three- and four-story brick office buildings totalling approximately 200,000 square feet of space. The property was formerly the headquarters to Boston Scientific Corporation until the medical device company vacated the site. Farley White purchased the vacant buildings in 2010 and performed a complete renovation to the property.
“As a first class brick and beam project on the Charles River, Riverworks is a rare commodity,” says Sam Altreuter, principal of Farley White. “I am proud of our entire team as everyone has worked extremely hard to turn the property into what it has become today. We are confident that Spear Street will continue to see the same success at the property.”
Cassidy Turley Executive Managing Director and Principal David Pergola and Managing Director Brian Doherty represented Farley White Interests in the sales transaction.