Meredith & Grew has successfully brokered the sale of 113 Hartwell Ave. to a joint venture of Neelon Properties, LLC and AEW Capital Management, L.P. for $12.85 million. AEW acquired the property on behalf of AEW Value Investors, II, L.P., the second in AEW's series of value-added real estate funds.
The Meredith & Grew team of executive vice president Lisa Campoli, senior vice president Matthew Daniels, vice president Nicholas Herz and associate Katharine Barryrepresented the owner, New York based Gateside Corp., and procured the buyer.
113 Hartwell Ave. is a one-story, 105,656 s/f office/R&D building located near Hanscomb Air Force Base and MIT's Lincoln Laboratory.
"Neelon Properties, LLC and AEW recognized the opportunity to create value by repositioning the asset for new tenancy at that time," said Campoli.