Newton, MA Alta Properties LLC, in partnership with Grander Capital Partners, have acquired 313 Washington St. The property was acquired from Taurus Investment Holdings, LLC for $15 million.
313 Washington Street - Newton, MATotaling 81,052 s/f, 313 Washington St. is 90% leased to a mix of analytics, technology, law and software tenants. The property’s street-level retail component includes Buff’s Pub. Situated off I-90 (Mass. Pike) and 8 miles from downtown Boston, the property also offers a below-grade parking garage.
“The property has experienced exceptional historic occupancy and is consistently more than 90% leased,” said Kathleen Joyce Kusiak, owner and managing partner at Alta.
Alta Properties is a real estate developer and investor with a primary focus on value-added real estate. Grander Capital Partners is a real estate investment firm focused on value-added opportunities in the office and industrial space. Kusiak’s relationship with Grander Capital Partners began in 2013, and since that time they have partnered on over 11 office and industrial properties totaling about 1 million square feet in the Northeast, Dallas and Mid-Atlantic markets.
“We were attracted by the highly-desirable location in the heart of Newton Corner that offers tenants an alternative to Downtown Boston’s increasing rental rates,” said Ted Norberg, Partner at Grander. “We also like the fact that Newton boasts a desirable mix of urban and suburban features.”
The Newmark Grubb Frank Knight Frank (NGFK) Capital Markets Boston team, led by U.S. Head of Capital Markets Robert Griffin, and included Vice Chairman Edward Maher and Executive Managing Director Matthew Pullen, represented the seller.
Alta Properties is a real estate investment firm based in Newton, that focuses on value-added real estate investment and development. It is owned by Kathleen Joyce Kusiak, who has over 25 years of experience in real estate in the Boston area. Alta Properties develops properties throughout New England, the Mid Atlantic and Texas and across all major asset classes, focusing on opportunities for income growth and capital appreciation. In order to maximize returns, Alta Properties typically partners with experienced operators and developers who have expertise with specific property types.
Grander Capital Partners is a Boston-based real estate investment and management company. Founded in 2011, GCP maintains offices in Boston, Baltimore, Virginia, and Dallas Texas. Combined, they maintain over 1.5 million s/f of real estate holdings in the New England, Mid-Atlantic, and Texas markets. Their portfolio consists of class A office, flex/industrial, and medical office space.
