Newton, MA Saracen Properties has acquired One Newton Place from Taurus Investment Holdings for $50.75 million. The property is a 172,813 s/f, urban in-fill office building. Saracen partnered with NYC-based Cadre on the deal, their first joint venture and Cadre’s first foray into the Boston market.
Situated along the Mass Pike (I-90), One Newton Place is located, close to downtown Boston, Cambridge and the suburbs to the west. It is currently 93% occupied by tenants including multinational software company Adobe, and life science tenants Clearview Health and cancer diagnostic company Lumicell. The building boasts 24,000 s/f of ground floor retail, including Core Power Yoga and Thai Amarin.
The Mass Pike corridor has seen recent growth, including developments at Arsenal Yards, New Balance’s World Headquarters at Boston Landing and Harvard’s expansion into Allston. Four express MBTA buses deliver employees directly to One Newton Place from downtown Boston.
“With new mixed used projects in the area and life science firms migrating from Cambridge into Watertown and Allston, we believe One Newton Place is perfectly positioned to support a growing workforce made up of employees living in both the city and the suburbs,” said Malcolm Constable, director at Saracen. “We are excited for the opportunity to expand our urban in-fill office portfolio with this superb property.”