Tuesday, October 02, 2012
NEW BOSTON FUND COMPLETES SIGNIFICANT UPGRADES AT WATERMILL CENTER
Waltham, Mass. (October 2, 2012) – New Boston Fund, Inc., a private equity real estate investment, development and management firm, announced today that it has completed significant upgrades and improvements at Watermill Center, a premier six-story, 206,634-square-foot Class-A office building in Waltham.
New Boston spent three months on the extensive upgrades and improvements at Watermill Center to enhance the building’s entrance and modernize the main lobby. The substantial work included window mullion painting, carpet replacement and new wall covering, as well as exterior plaza pavers and landscaping upgrades. New Boston also installed a new revolving door, floor tile, decorative accent lighting, and a cutting edge electronic building directory.
“New Boston is pleased to announce the completion of these substantial upgrades at Watermill Center, one of our core assets in the Northeast,” said Gary Hofstetter, Northeast Regional Director at New Boston Fund. “We are excited to provide our valued tenants with an improved facility and incredible amenities. We are confident that the upgrades, as well as the building’s terrific location will continue to attract high-quality tenants.”
Located in a beautifully landscaped environment, Watermill Center includes a full-service cafeteria and 703 parking spaces. Other notable tenants at Watermill Center include New York Life, Global Petroleum, and Steinway Musical Instruments.
The property is centrally located in the City of Waltham in the Route 128 Central submarket. Waltham sits in the heart of Boston’s technology corridor, the region’s strongest suburban market.
The project’s architect was Visnick & Caulfield Associates and the general contractor was Early Day Construction.
New Boston acquired Watermill Center in March 2000.
About New Boston Fund
New Boston is an independent, privately owned real estate investment manager and an industry leader in providing real estate investment, development and management services with a history of strong sponsorship and oversight of its investment funds. New Boston has developed or acquired commercial and residential properties with a cumulative market value of about $4.4 billion, including 23 million square feet of commercial real estate and 7,500 residential units. Our investment vehicles cater to institutional and high-net worth investors by offering value-add and urban real estate investment funds with a focus on diversification and capital preservation. The New Boston Fund: People, Values, Returns. www.newbostonfund.com
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