Rick Putprush, vice president, and Patrick Carey, advisor with Grubb & Ellis Co., represented the seller, Wellsford/Whitehall Group LLC, the entity under which the property was owned, and also introduced the purchaser, Eastport Real Estate. Archon recently merged with W.P. Commercial, which had changed its name from Wellsford. Both companies are divisions of Goldman Sachs.
Michael Price, principal of Eastport Real Estate, notes that this building fits with his company's portfolio of Class B office buildings in the Waltham market. It is Eastport's fourth Waltham acquisition.
The building is fully leased by Brandeis University and is next to Stony Brook Office Park and near the Massachusetts Turnpike as well as Routes 30 and 128. Financing for this transaction was provided by Cambridge Savings Bank.
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