Dedham, MA Cushman & Wakefield represented Saletin Real Estate Group in the leasing of 600 Providence Hwy. The 90,000 s/f property across 11.25 acres was sold to an affiliate of Saletin Real Estate Group, in a transaction also facilitated by Cushman & Wakefield, for $10.6 million in July.
The Cushman & Wakefield leasing team for this property includes managing director, Rob Byrne, associate Rachel Igoe, associate, Philip Verre, director, George O’Connor, and executive director, Paul Leone.
Already 85% leased, the building is a hub for office and retail tenants, particularly those in the health and wellness industry. Current tenants include Orange Theory Fitness and yoga, barre and cryotherapy providers. Tenants and customers have been drawn to the site for its prime location on Rte. 1 where it intersects with Rte. 95, making access to and from Boston and surrounding suburbs convenient. Legacy Place and a variety of other newly developed properties are also located near the property, making the area a lifestyle and shopping destination.
The building’s new ownership is experienced in the management and redevelopment of similar mixed-use properties throughout New England and have already begun investing in renovating the property, aiming to give it a true “campus” feel.
Exterior and interior improvements are underway, with a new façade and uniform business signage throughout the site. Other improvements include new or revamped paint, carpeting, railings and other features.
“We have already received strong interest from potential tenants in this space due to its proximity to other retail hubs and access to several important links in the Massachusetts transportation network,” said Rob Byrne, managing director at Cushman & Wakefield. “The extensive capital improvements already being implemented by its new owners are a further sign of their commitment to making 600 Providence a true retail and office destination, which is very unique in the suburban marketplace.”
“We were proud to play a key role in facilitating the sale of 600 Providence Highway to Saletin Real Estate Group,” said Pete Rogers, Director at Cushman & Wakefield and a member of the Capital Markets team that successfully led the sale of the building. “Helping buyers and sellers connect over the right properties is a core part of our mission here.”