American Realty buys Waltham office complex
American Realty Advisors of California has bought Waltham Corporate Center, a first-class office complex, for $106 million from The Beal Cos. LLC of Boston and Rockwood Capital LLC of Greenwich, Conn.
The 292,825-square-foot property was marketed by Jones Lang LaSalle, a real estate services and money management firm. The sale closed late last week.
"With its highly visible and accessible location, the property is well-suited to serve the current and long-term needs of our prestigious tenant base in the medical and utilities industries," said
Stanley Iezman, president and chief executive of American Realty Advisors.
Waltham Corporate Center was built in 2000 and consists of three separate buildings and an 880-car parking garage, all located along Route 128. Rents and purchases prices for office properties have been zooming up in recent months, and this is the latest example.
Waltham Corporate Center is the site of Massachusetts General Hospital’s west campus and Keyspan Energy’s northeast headquarters.
American Realty Advisors has more than $4.1 billion in assets under management. Rockwood Capital is a private real estate investment company managing more than $2.8 billion in assets. Beal Cos., a private company, has been in business since 1888.
(By Thomas C. Palmer Jr., Globe staff)
