BOSTON— NKF Capital Markets has completed the sale of 89 A Street in Needham, MA to MetLife Investment Management for $96.5 million.
On behalf of Normandy Real Estate Partners and Westbrook Partners, NKF Capital Markets Vice Chairman Edward Maher, Executive Managing Director Matthew Pullen, Director James Tribble and Associate Director Samantha Hallowell of the Boston office, which is led by Co-Head of U.S. Capital Markets Robert Griffin, oversaw the transaction of the 247,542-square-foot creative office building.
89 A Street is anchored by the global headquarters of SharkNinja, a leading household cleaning and kitchen appliance company. The newly-renovated property features a two-story lobby, two interior courtyards, a cafeteria and a fitness center complemented by high-end tenant buildouts.
“Offering open, collaborative office space in a dynamic mixed-use location with seamless accessibility, 89 A Street enables tenants to attract and retain a modern workforce,” said Pullen. “SharkNinja’s headquarters commitment at 89 A Street underscores this competitive advantage – the firm consolidated four locations across Needham and Newton to the property.”
89 A Street is located within Founders Park, a 41-acre campus featuring more than $350 million in recently completed and ongoing investment. Highlights include the corporate headquarters of TripAdvisor and a 128-key Residence Inn hotel with a regional headquarters/media center for Comcast subsidiary NBCUniversal and a 390-unit apartment complex slated for future delivery. The park offers immediate access to two interchanges along Interstate 95/Route 128 as well as shuttle service to the MBTA Green Line’s Newton Highlands station.
Normandy Real Estate Partners is a leading real estate investment management firm and operator with offices in New York City, Boston, Washington, D.C. and New Jersey with a track record spanning 20 years. The firm is a vertically-integrated investment and operating platform with a total of 120 employees with broad real estate experience in areas such as acquisitions, investment management, leasing, property management, construction/development and accounting.
Westbrook Partners, founded in April 1994, is a privately-owned, fully integrated global real estate investment firm with offices in New York, Boston, Washington, DC, Palm Beach, San Francisco, Los Angeles, London, Munich, Paris and Tokyo.