Newmark Capital Markets has successfully completed the sale of Montvale Hill in Woburn, Massachusetts to Leggat McCall Properties. Executive Managing Director Torin Taylor and Managing Director Justin Smith of the Newmark Capital Markets Boston office, which is led by U.S. Head of Capital Markets, President, New England Area Robert Griffin, oversaw the transaction of the 107-acre development opportunity in conjunction with Cushman & Wakefield Executive Vice President Christopher Porter on behalf of Kraft Heinz.
“Montvale Hill is situated within a strong trade area featuring major employers such as Keurig, Nokia, Oracle and Raytheon,” said Taylor. “The property also enjoys excellent positioning just minutes from one of the country’s strongest office/lab markets in Cambridge as well as the Seaport. It is one of the only sites inside of Route 128 which can accommodate users from 300,000 to 700,000 square feet and is well positioned for lab, advanced manufacturing or office use.”
Situated eight miles north of Downtown Boston, Montvale Hill enjoys a highly visible location with nearly one-half mile of linear, unobstructed frontage along Interstate 93. The majority of the property is located in Woburn with neighboring Winchester and Stoneham also maintaining a stake in its redevelopment.
“Montvale Hill offers flexible future use potential within one of the most dynamic submarkets in Metro Boston,” said Smith. “The property also benefits from access to a variety of transportation and lifestyle amenities.”
With convenient proximity to the MBTA commuter rail and subway, Montvale Hill offers superior accessibility. The surrounding region also offers an abundance of shopping, dining, entertainment and recreation options including the Woburn and Burlington Malls, 3rd Ave retail corridor, Assembly Row shopping center and Middlesex Fells Reservation.
About Newmark Capital Markets
Newmark Capital Markets, operated by Newmark Group, Inc., is one of the world’s leading commercial real estate advisory firms. Together with London-based partner Knight Frank and independently-owned offices, our 15,000 professionals operate from more than 400 offices in established and emerging property markets on six continents.
With roots dating back to 1929, our strong foundation makes us one of the most trusted names in commercial real estate. We provide access to a wide range of services, including asset sales, sale leasebacks, mortgage and entity-level financing, equity raising, underwriting and due diligence. The transactions we broker involve vacant land, new real estate developments and existing buildings. We specialize in arranging financing for most types of value-added commercial real estate, including land, condominium conversions, subdivisions, office, retail, industrial, multifamily, student housing, hotels, data center, healthcare, self-storage and special use. For further information, visit www.ngkf.com/capitalmarkets.
Newmark Group, Inc., which is listed on the NASDAQ Global Select Market under the symbol “NMRK”, is a publicly traded subsidiary of BGC Partners, Inc. (“BGC”), 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 “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 “BGCA”.
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