BOSTON– HFF announced today that it has closed the $237 million sale of The Wellesley Office Park, a trophy, 649,184-square-foot office park located in Wellesley, Massachusetts.
The HFF team led by Coleman Benedict and Ben Sayles exclusively represented the seller, Equity Office Properties, in the transaction.
The Wellesley Office Park is a master-planned, “award-winning” office park that is located in suburban Boston at the intersection of Route 128/Interstate-95 and Route 9. At the time of sale, the asset was approximately 90.0 percent leased to an absolute “blue chip” tenant roster including names such as AXA Equitable Life Insurance, Northwestern Mutual Life, Bank of America Merrill Lynch, Newton-Wellesley Hospital, Wells Fargo, Morgan Stanley, Eagle Investment Systems, Stream Global Services, UBS, Benchmark Senior Living, REZ-1, Baystate Financial, and F-Squared Investments.
“Wellesley Office Park can easily be considered ‘best in class’ and embodies all the long-term criteria standards of institutional investors: irreplaceable setting, convenient access, on-site amenities and marquee tenancy,” said Benedict. “This distinction is overused in today’s environment and only truly applies to those office properties that consistently outperform their peer group, regardless of market conditions.”
HFF (Holliday Fenoglio Fowler, L.P.) and HFFS (HFF Securities L.P.) are owned by HFF, Inc. (NYSE: HF). HFF operates out of 22 offices nationwide and is a leading provider of commercial real estate and capital markets services to the U.S. commercial real estate industry. HFF together with its affiliate HFFS offer clients a fully integrated national capital markets platform including debt placement, investment sales, equity placement, advisory services, loan sales and commercial loan servicing. For more information please visit www.hfflp.com or follow HFF on Twitter at www.twitter.com/hff.