CenterPoint

Property Details

In 2007, Saracen Properties LLC formed a joint venture with Trammell Crow Company Acquisition II LP to purchase and redevelop a former Raytheon headquarters site at 41 Seyon Street and 43 Foundry Avenue in Waltham, MA. Saracen acted as Development and Construction manager, overseeing the $30,000,000 repositioning of the 23-acre site. Saracen is the Property Manager and oversees leasing of the project. The total project development cost was in excess of $75,000,000 for this first class office and laboratory facility.

CenterPoint totals approximately 440,000 sf of first-class office and laboratory facilities. Prior to the repositioning, the project was 30% leased and today it is over 90% leased. Major tenants include Simpson, Gumpertz & Heger, Education Development Center and Repligen. In January 2013, Saracen recapitalized the project in a JV with Rubenstein Partners. In 2018, after subdividing the lot, Saracen sold 190 Willow Street, (47,000 sf, 100% leased to Extra Space Storage), for $9,000,000 and then recapitalized the Office portion of the project with Hilco Real Estate for $86,000,000. Saracen continues its role as Property Manager.

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Building Type:
Commercial
Square Feet:
260,000
Floors:
2
Status:
Active
Contact Information
(781) 250-8000