Boston— Newmark announced the $129 million sale of 225 & 235 Presidential Way, a two-building trophy office/research campus occupied by Raytheon Technologies and located in the suburban Boston community of Woburn, Massachusetts.
Alexandria Real Estate Equities Inc. purchased the property.
Newmark Co-Head of U.S. Capital Markets Robert Griffin, Vice Chairman Edward Maher, Executive Managing Director Matthew Pullen and Managing Director Samantha Hallowell of the firm’s Boston Capital Markets Group represented the seller, Piedmont Office Realty Trust, and procured the buyer. Newmark Senior Financial Analyst William Sleeper provided financial analysis support.
Comprising 440,130 square feet in two interconnected buildings, 225 & 235 Presidential Way hosts essential support functions for one of Raytheon Technologies’ four business segments—Raytheon Missiles & Defense.
“225 & 235 Presidential Way benefits from tenured tenancy with Raytheon Technologies having been located on site since 2004,” said 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.”
In addition to its access to Interstate 93, 225 & 235 Presidential Way is located just two miles north of Interstate 95, adjacent to the Anderson/Woburn Transportation Center, 15 minutes from Boston and the New Hampshire border and 20 minutes from Raytheon Technologies’ global corporate headquarters in Waltham, Massachusetts.