Wednesday, September 10, 2014
NEW BOSTON FUND LEASES 23,000 SQUARE FEET AT GRANITE WOODS CORPORATE CENTER IN BRAINTREE
Smith & Brink and VHA renew tenancy
BOSTON – (September 10, 2014) - New Boston Fund, Inc., a private equity real estate investment, development and management firm, announced today that it has secured two lease extensions at Granite Woods Corporate Center in Braintree, Mass. with law firm Smith & Brink, and VHA, Inc. for 15,861 square feet and 7,500 square feet respectively.
“We are thrilled that two of our existing tenants have elected to extend their leases at Granite Woods,” said Paul Stuart, Vice President at New Boston Fund. “This continues to be a strong asset in our portfolio with such high-quality space and many attractive amenities nearby. We’re very pleased with the property’s performance given the very competitive market in Greater Boston.”
David Goodhue and Caleb Hudak of Colliers International represented New Boston Fund in both transactions. Stephen Woelfel, who joined Colliers from Cushman & Wakefield in April of this year, represented Smith & Brink along with Cushman & Wakefield’s J.R. McDonald.
Acquired by New Boston Fund in June 2008, Granite Woods Corporate Center consists of two premiere office buildings totaling 168,000 square feet on a 7.5-acre site. Building One 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 a renovation of the lobbies.
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.
Smith & Brink and VHA will continue to occupy space alongside several other tenants such as Verizon, Travelers Insurance, and the Telephone Worker’s Credit Union.
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
About Colliers International
Colliers International is a global leader in commercial real estate services, with over 13,500 professionals operating out of more than 482 offices in 62 countries. A subsidiary of FirstService Corporation, Colliers International delivers a full range of services to real estate users, owners and investors worldwide, including global corporate solutions, brokerage, property and asset management, investment sales, development and consulting services, valuation and appraisal services, mortgage banking and insightful research. The latest annual survey by the Lipsey Company ranked Colliers International as the second-most recognized commercial real estate firm in the world. For the latest international news from Colliers International, visit colliers.com/us/news, or follow us on Twitter: @ColliersIntl
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