AEW Buys $53M MA Office Asset

101 Station Drive, Westwood, Mass.

AEW Capital Management has acquired 101 Station Drive in Westwood, Mass. from National Development and Charles River Realty Investors, for $53.1 million. NKF Capital Markets represented the seller in the transaction.

The 208,134-square-foot office property is currently 100 percent leased to eight tenants anchored by General Dynamics, The Predictive Index, Honeywell, Mott MacDonald and Boston Children’s Hospital. 101 Station Drive recently underwent a multimillion-dollar renovation to make it a state-of-the-art workplace for its tenants. On-site amenities now include:

• cafe
• fitness center
• outdoor fireplace and lounge
• bicycle rental station
• shuttle service to shops, restaurants and MBTA/Amtrak station 

The NKF Capital Markets’ team was led by U.S. Head of Capital Markets, President, New England Area Robert Griffin, Vice Chairman Edward Maher, Executive Managing Director Matthew Pullen, Director James Tribble and Associate Director Samantha Hallowell. The Boston office oversaw the transaction in conjunction with Executive Managing Director Michael Frisoli and Managing Director Peter Whoriskey. 

“101 Station Drive enjoys exceptional positioning within one of suburban Boston’s most vibrant and active office micro-markets,” said Pullen, in a prepared statement. “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.”

Image courtesy of NKF Capital Markets