Monday, October 07, 2013
NEW BOSTON FUND SECURES LEASE AT METRO BOSTON OFFICE BUILDING
Private Flight relocates to Granite Woods Corporate Center
BOSTON – (October 7, 2013) - New Boston Fund, Inc., a private equity real estate investment, development and management firm, announced today that it has secured a 3,173-square-foot lease with Private Flight Advisors, a comprehensive, private jet charter and advisory firm, at Granite Woods Corporate Center in Braintree, Mass.
Acquired by New Boston in June 2008, Granite Woods Corporate Center consists of two premiere office buildings totaling 168,000 square feet on a 7.5 acre site. Granite Woods is conveniently located less than one mile from I-93 and just south of the Braintree Split interchange with Route 3. The property is easily accessible from Boston and areas to the north, as well as from I-95 and Route 24, which run directly through suburban communities south of Boston. The property is also adjacent to South Shore Plaza, one of New England’s largest super-regional malls.
“We are seeing a stronger demand for office space in the Route 128/95 Boston corridor,” said Paul Stuart, Vice President at New Boston Fund. “We’re proud to offer our tenants, which now include Private Flight Advisors, high quality amenities that make Granite Woods Corporate Center standout along the southern I-95 corridor”.
Building 1 is located on the western side of the site, and is approximately 83,578 square feet. Building two, at 84,639 square feet, is situated directly adjacent to building one, and was constructed upon two levels of decked parking. Connected via a sky-way, the buildings were originally developed in 1972 and 1991, and in 2007, $3.2 million was spent in systems and common area upgrades including renovation of the lobbies.
Private Flight Advisors will take space in Building 1 and joins an impressive list of tenants at Granite Woods, including Verizon, Travelers Insurance, VNA of Boston and the Telephone Worker’s Credit Union. New Boston was represented by Caleb Hudak, vice president at Colliers International, and Private Flight was represented by Robert Conrad, president of The Conrad Group, in this transaction.
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 $3.5 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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