Legacy Real Estate Ventures Acquires 70 Wells Avenue Office Building In Newton, MA For $4M

Legacy Real Estate Ventures has recently acquired an office building located at 70 Wells Avenue in Newton, Massachusetts for a purchase price of over $4 million. The property offers a total of 28,244 square feet of office and storage space spread across two stories. With its prime location in the Newton market, this asset presents a great opportunity for office repositioning.

Summary of transaction details

• Property Type: Office
• Transaction Amount: $4,000,000
• Address: 70 Wells Avenue, Newton, MA
• Market: Newton, MA
• SF: 28,244
• PPSF: $142

The deal was facilitated by the brokerage team at Newmark, including Robert Griffin, Joseph Alvarado, George Demoulas, and Casey Valente. Their expertise and efforts played a crucial role in connecting the buyer, Legacy Real Estate Ventures, and the seller, Wingate Companies, and successfully closing the transaction.

This acquisition by Legacy Real Estate Ventures follows their previous purchase of another property, 189 Wells Avenue, from Wingate Companies. The buyer continues to expand their portfolio in the Newton market, capitalizing on opportunities for growth and value creation in the office sector.