WALTHAM, MA – Saracen Properties announced the acquisition of One Newton Place from Taurus Investment Holdings. The property is a 172,813 square foot, urban in-fill office building located in Newton, MA.
Saracen partnered with New York City-based Cadre on the deal, their first joint venture and Cadre’s first foray into the Boston market.
Situated along the Mass Turnpike (I-90), One Newton Place is ideally located, minutes from Downtown Boston, Cambridge and the affluent suburbs to the west. It is currently 93% occupied by a diverse roster of tenants including multinational software company Adobe, and life science tenants Clearview Health and cancer diagnostic company Lumicell.
The building boasts 24,000 square feet of ground floor retail, including Core Power Yoga and Thai Amarin.
The Mass Turnpike corridor has witnessed explosive growth, including developments at Arsenal Yards, New Balance’s World Headquarters at Boston Landing and Harvard’s expansion into Allston. Four express MBTA buses deliver employees directly to One Newton Place from Downtown Boston.
“With new mixed used projects in the area and life science firms migrating from Cambridge into Watertown and Allston, we believe One Newton Place is perfectly positioned to support a growing workforce made up of employees living in both the city and the suburbs,” said Malcolm Constable, Director Saracen Properties. “We are excited for the opportunity to expand our urban in-fill office portfolio with this superb property.”
Developing and acquiring over 5 million square feet of office and technology-related facilities in the Greater Boston market, Saracen has a history of achieving durable,
risk-adjusted returns for its investors. With a vertically integrated platform of services, Saracen executes complex development, redevelopment and repositioning initiatives utilizing a value investment strategy.