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101 Station Drive in Westwood has been acquired for $53.1 million following a multimillion-dollar repositioning project.
The 3-story, 208,134-square-foot office building is fully leased to eight tenants including General Dynamics, Mott MacDonald, The Predictive Index, Boston Children’s Hospital and Honeywell.
Boston-based Margulies Perruzzi Architects designed a capital improvement program including a new front facade, updated lobby, café, fitness center, outdoor fireplace and lounge and bicycle rental station. Owners by National Development and Charles River Realty Investors added a shuttle service to nearby shops, restaurants and the University Avenue MBTA/Amtrak train station.
Completed in 1984 and originally known as 105 Rosemont Road, the property was a single-tenant building previously occupied by State Street Corp. National Development; Charles River Realty Advisors acquired it in 2014 for $16 million.
Newmark Knight Frank’s Boston-based capital markets team represented the sellers in the latest transaction. The buyer was AEW Capital Management on behalf of an institutional client.
“In a clear testament to its successful repositioning and desirable location, the asset experienced more than 200,000 square feet of leasing activity in the past two years,” Newmark Knight Frank Executive Managing Director Matthew Pullen said in a statement.
