Adobe agrees to buy Waltham office building

Adobe Systems Inc., a California software company, said today it has agreed to buy a "green" building under construction in Waltham in a transaction valued at $44.7 million.

The Waltham property on Hickory Drive is called Overlook Center, and it will have just under 110,000 square feet of space when completed, Adobe said.

The seller is Normandy Real Estate Partners, a real estate private equity firm with headquarters in New Jersey.

Upon completion, the new Adobe property will feature contemporary design elements of glass and steel and include approximately 360 spaces of on-site covered parking, a cafe, fitness center, triangular conference facility, abundant natural light, and a courtyard drop-off area, Adobe said.

Adobe said it currently occupies leased office space in Newton, home to about 200 employees; once fully complete, Overlook Center will house those employees and provide Adobe with room for continued growth in the Boston area, Adobe said.

"The Boston area, with its rich ecosystem of technical talent and innovation, is important to Adobe's business and this purchase reinforces our commitment to having a significant presence in the area," Rick Treitman, site leader for Adobe's Boston operations, said in a statement. "Like many of our other sites around the world, the Overlook Center site will be a cutting-edge building that reflects our commitment to eco-friendly operation and community involvement while offering first-class amenities for our employees."
(By Chris Reidy, Globe staff)