Newmark has successfully completed the sale of Totten Pond Office Park in Waltham, Massachusetts to Anchor Line Partners in joint venture with Northwood Investors for $51.5 million. Led by U.S. Head of Capital Markets Robert Griffin, Vice Chairman Edward Maher, Executive Managing Director Matthew Pullen, Director James Tribble and Associate Director Samantha Hallowell, Newmark’s Boston Capital Markets Group oversaw the transaction of the three-building office park on behalf of TA Realty.
Encompassing 400, 410 and 460 Totten Pond Road, Totten Pond Office Park is presently 87 percent leased to a 43-tenant roster. Together, the buildings feature newly-renovated on-site amenities including a cafeteria, fitness center, conference room and café.
“Totten Pond Office park represents a top value alternative for tenants seeking a Waltham address,” said Pullen. “The property’s 20,000-square-foot floor plates offer exceptional efficiency and flexibility for a variety of tenant requirements.”
Situated immediately off Route 128 (Interstate 95) and 10 minutes from its interchange with Interstate 90 (Massachusetts Turnpike), Totten Pond boasts exceptional regional accessibility. Additionally, the property is surrounded by Waltham’s booming amenity scene, which boasts 200,000 square feet of new retail openings in the last 24 months.
Newmark is one of the world’s leading commercial real estate advisory firms. Together with London-based partner Knight Frank and independently-owned offices, Newmark’s 15,000 professionals operate from more than 400 offices in established and emerging property markets on six continents.
With roots dating back to 1929, Newmark’s strong foundation makes it one of the most trusted names in commercial real estate. Newmark’s full-service platform comprises BGC’s real estate services segment, offering commercial real estate tenants, landlords, investors and developers a wide range of services including leasing; capital markets services, including investment sales, debt placement, appraisal, and valuation services; commercial mortgage brokerage services; as well as corporate advisory services, consulting, project and development management, and property and corporate facilities management services. For further information, visit www.ngkf.com.
Newmark is a part of BGC Partners, Inc., a leading global brokerage company servicing the financial and real estate markets. BGC’s common stock trades on the NASDAQ Global Select Market under the ticker symbol (NASDAQ: BGCP). BGC also has an outstanding bond issuance of Senior Notes due June 15, 2042, which trade on the New York Stock Exchange under the symbol (NYSE: BGCA). BGC Partners is led by Chairman and Chief Executive Officer Howard W. Lutnick. For more information, please visit www.bgcpartners.com.