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Sep 15, 2009

Needham Street

Newton, Massachusetts

Retail Square Feet: 62,589 
Industrial Square Feet: 260,000 
Office Square Feet: 172,468 
Total Square Feet: 495,241 
Total Land Area: 22.6 acres 
Strategy: Assemblage/Redevelopment 

In November 2003, Northland assembled a prime 22.6 acre parcel located in Newton, Massachusetts. Northland initially approached the corporate abutter to its Marshall’s Plaza in an off market transaction, but the Fortune 100 corporation insisted on selling the property by auction, where Northland acquired it for $1.3 million less than it had previously offered. Northland further expanded the assemblage of this parcel by acquiring the adjacent historic mill complex in an off-market acquisition. The 22.6 acre assemblage is one of the largest and most desirous assemblages in the Class A Metro West submarket.