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News: Front Section
Posted: March 4, 2022
Piedmont Office Realty Trust sells 440,130 s/f property for $129 million - Newmark represents seller, Piedmont Office Realty Trust
Woburn, MA Newmark completed the $129 million sale of 225 & 235 Presidential Way, a two-building trophy office/research campus occupied by Raytheon Technologies. Newmark co-head of U.S. Capital Markets Robert Griffin, vice chairman Edward Maher, executive managing director Matthew Pullen and managing director Samantha Hallowell of the firm’s Boston Capital Markets Group represented the seller, Piedmont Office Realty Trust, and procured the buyer. Newmark senior financial analyst William Sleeper provided financial analysis support.
Comprising 440,130 s/f in two interconnected buildings, 225 & 235 Presidential Way hosts essential support functions for one of Raytheon Technologies’ four business segments–Raytheon Missiles & Defense.
“225 & 235 Presidential Way benefits from tenured tenancy with Raytheon Technologies having been located on site since 2004,” said Maher. “The institutional-quality campus is fully customized to its requirements, featuring state-of-the-art infrastructure, highly visible signage overlooking I-93 and on-site amenities including a fitness center, full-service cafeteria, conference/meeting facilities and two structured parking garages.
In addition to its access to I-93, 225 & 235 Presidential Way is located two miles north of I-95, adjacent to the Anderson/Woburn Transportation Center, 15 minutes from Boston and the New Hampshire border and 20 minutes from Raytheon Technologies’ global corporate headquarters in Waltham, Mass.
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