The Bulfinch Companies Acquires Development Site On Highland Ave In Needham For $57.5M

The development site located at 557 Highland Ave in Needham, MA has been sold in a closed transaction. The sale took place on December 15, 2021. The property was purchased by The Bulfinch Companies from John Muzi Associates. The transaction was facilitated by two broker teams, Jeremy Freid, Adam Meixner, Tyler Capecci, and Jordan Sneider from 128 CRE, and Jason Weissman, Nick Herz, and Kevin Benzinger from Boston Realty Advisors.

Summary of transaction details:

• Property Type: Development Site
• Transaction Amount: $57,500,500
• Address: 557 Highland Ave, Needham, MA
• Market: Needham, MA

The development site spans a total area of 409,000 square feet. The sale price equates to a price per square foot (PPSF) of $141. The building square footage (BSF) measures 307,000, resulting in a PPSF of $187. This transaction signifies a significant investment in the thriving Needham market.