Newmark announces the successful completion of the sale of 42 Longwater Drive in Norwell, Massachusetts on behalf of a client of The RMR Group to Clean Harbors. Vice Chairman Edward Maher, Executive Managing Director Matthew Pullen and Managing Director Samantha Hallowell of Newmark’s Boston Capital Markets team - which is led by Co-Head of U.S. Capital Markets Robert Griffin - oversaw the transaction of the headquarters facility in conjunction with Newmark Senior Managing Director Richard (Tyler) McGrail.
Totaling 104,008 square feet, 42 Longwater Drive has served as Clean Harbors’ headquarters facility since 2005. The asset is undergoing a comprehensive modernization highlighted by the recently completed renovation of its full-service café, addition of a brand-new outdoor patio and ongoing upgrades to its office space.
“42 Longwater Drive benefits from its positioning along the Route 3 South corridor, which offers direct access to the South Shore’s highly sought-after employee base,” said Pullen. “For this reason, the corridor serves as home to an established corporate neighborhood anchored by premier headquarters users like Clean Harbors.”
42 Longwater Drive is situated within Assinippi Park, a nearly one-million-square-foot business park that features a diverse corporate roster. The asset benefits from access to abundant local amenities highlighted by Derby Street Shops, the Hanover Mall and the newly-constructed Merchant’s Row.
About The RMR Group
The RMR Group Inc. is a holding company, and substantially all of its business is conducted by its majority-owned subsidiary, The RMR Group LLC. The RMR Group LLC is an alternative asset management company that primarily provides management services to publicly traded REITs and real estate operating companies. As of September 30, 2019, The RMR Group LLC had $32.8 billion of real estate assets under management, including over 2,200 properties, and employed approximately 600 real estate professionals in more than 30 offices throughout the United States; and the companies managed by The RMR Group LLC collectively had nearly 50,000 employees. The RMR Group Inc. is headquartered in Newton, Massachusetts.
Newmark (“Newmark”), operated by Newmark Group, Inc. (“Newmark Group”) (NASDAQ: NMRK), is one of the world’s leading and most trusted commercial real estate advisory firms, offering a complete suite of services and products for both owners and occupiers. Together with London-based partner Knight Frank and independently-owned offices, Newmark’s 18,000 professionals operate from approximately 480 offices on six continents. Newmark’s investor/owner services and products include investment sales, agency leasing, property management, valuation and advisory, diligence, underwriting, government-sponsored enterprise lending, loan servicing, debt and structured finance and loan sales. Occupier services and products include tenant representation, real estate management technology systems, workplace and occupancy strategy, global corporate services consulting, project management, lease administration and facilities management. For further information, visit www.ngkf.com.
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