The property was put out to bid in mid-June and received "tonsof interest," according to Ed Maher, executive director of Cushman& Wakefield, who was part of the team that brokered the sale."We received eight credible offers from foreign partnerships,REIT's, private groups and pension funds," he tells Globest.com.The property was purchased in part by a pension fund, theCalifornia Public Employee's Retirement system, which constitutesthe NOP partnership with Hines, a privately owned real estate firmbased in Houston.

Wellesley Gateway is the headquarters of Harvard PilgrimHealthcare, which fully occupies the facility and holds a 10-plusyear lease. The four-story, class A office building sits on15.7-acres, and was built in 2000. Designed by Elkus/ManfrediArchitects, it is located in the northwest quadrant of the Route128/Interstate 95 and the Route 9 cloverleaf interchange. Thebuilding includes a full-service cafeteria, employee fitness centerand structured parking for 1,114 cars.

"Wellesley Gateway is an exceptional addition to NOP'sportfolio," says Daniel MacEachron, the Hines senior vice presidentwho heads the NOP partnership. "We believe the Boston suburbs andthe Route 128 corridor will experience solid growth for years tocome." The transaction represents the 13th building acquisition forNOP since its inception in July1998, a portfolio which alsoincludes the 670,000-sf Riverfront Office Park in Cambridge.