WOBURN, MA – Piedmont Office Realty Trust has sold a two-building trophy office/research campus for $129 million.
Located at 225 and 235 Presidential Way in Woburn, MA, the interconnected buildings total 440,130 square feet of space.
Occupied by Raytheon Technologies, the properties host essential support functions for Raytheon Missiles & Defense. Raytheon Technologies' global corporate headquarters are located 20 minutes from the campus in Waltham, MA.
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The properties offer access to Interstate 93 and are situated near Interstate 95 and the Anderson/Woburn Transportation Center. The campus is located 15 minutes from Boston, MA and the New Hampshire border.
Representing the seller was Newmark's co-head of US capital markets Robert Griffin, vice chairman Edward Maher, executive managing director Matthew Pullen and managing director Samantha Hallowell. The Newmark team also procured the buyer. Newmark senior financial analyst William Sleeper provided financial analysis support for the transaction.
"225 & 235 Presidential Way benefits from tenured tenancy with Raytheon Technologies having been located on site since 2004," says Maher. "The institutional-quality campus is fully customized to its requirements, featuring state-of-the-art infrastructure, highly visible signage overlooking Interstate 93 and on-site amenities including a fitness center, full-service cafeteria, conference/meeting facilities and two structured parking garages."
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Ingrid Tunberg
Ingrid Tunberg sits on the editorial team as a coordinator and reporter for Real Estate Forum and GlobeSt.com. She is responsible for writing stories, assisting with industry awards and marketing nomination events. Previously, Ingrid worked as a copywriter across various industries throughout New York City and Chicago.
