Boston Properties Increases Waltham Presence with $106M Buy

WALTHAM, MA—Boston Properties reports today it has acquired the two-building Waltham Woods office complex here for $106 million in cash.

The deal for the 392,600-square-foot 880, 890 Winter St. further increases Boston Properties’ holdings in Waltham. The 28-acre property is located near Boston Properties’ 58-acre Bay Colony property. On behalf of the seller AEW, Newmark Knight Frank vice chairman Edward Maher, executive managing directors Matthew Pullen and James Tribble and director Samantha Hallowell of NKF’s Boston Capital Markets team, which is led by co-head of U.S. Capital Markets Robert Griffin, oversaw the transaction for the two-building property.

880 and 890 Winter St. are currently 82% leased to approximately 24 companies primarily in the healthcare, technology, services and energy infrastructure sectors. Existing on-site amenities include two cafés, a large, landscaped outdoor seating area, a fitness center, a conference center and parking.

“Waltham continues to be one of the region’s most desirable urban edge locations for organizations that want to attract and retain highly-educated associates,” says Bryan Koop, EVP, Boston region, Boston Properties. “The 880 and 890 Winter Street campus provides both location and amenities that offer long term value for current and prospective tenants and is another example of Boston Properties’ commitment to providing our customers with great space and place to grow their businesses.”

Boston Properties, the largest owner and manager of Class A office space in Waltham, has holdings in Waltham totaling more than 4.0 million square feet. The firm owns and actively manages approximately 5 million square feet along the Route 128/Interstate 95 corridor in the Boston suburbs. The company’s overall portfolio totals 50.9 million square feet and 193 properties, including 12 properties under construction.