128 CRE is pleased to present the opportunity to purchase 175 Highland Avenue in Needham, MA. This is a rare opportunity to acquire an office building in one of the strongest suburban office markets in New England.
175 Highland Avenue is a 40,000 SF four story office building with a two story covered parking deck on the first two floors on 1.19 acres. Often referred to as “the AAA building”, 175 Highland Avenue is one of Needham’s most recognizable office buildings. The four story building has benefited from a recent capital improvement campaign, which included updates to the common areas and bathrooms. Just steps from Rt. 95, tenants have historically chosen to lease space at the building for its tremendous access North, South and West.
Value-add upside exists with rental rate upside as well as a mixed use residential/retail development within the Town of Needham’s upzoned district. The assets reside in the heart of one of the most exclusive and affluent residential communities in New England. The combination of excellent schools, convenient public transportation and abundant retail destinations make Needham one of the most desirable communities in Massachusetts. This well-heeled suburb is also recognized for its expanding infrastructure and close proximity to Boston, all within the N2 Innovation District which has an abundance of both emerging innovative companies, educational institutions and established employers including Trip Advisor, Shark Ninja, NBC Universal, Harvard Vanguard Medical Associates, Mount Ida College and Olin College.
175 Highland Avenue is offered for sale on an unpriced basis. We will be conducting tours of the property in the upcoming weeks with a “call-for-offers” to follow.