Quincy, MA

Investment Partner
Grander Capital Partners

Property Type
Office

Acquisition Date
2017

 

Project Overview

108 Myrtle St. is a six-story, 160,882-square-foot, Class A office building in North Quincy, MA, with an on-site gym and café, and ample parking The building is conveniently located directly off Interstate 93, just seven miles south of Downtown Boston and within walking distance to the MBTA’s Red Line “T” station.

Alta acquired the property after an extensive renovation that included a new state-of-the-art lobby, renovated common areas, system upgrades, including a new energy management system, and new restrooms. The property is 87% leased to a diverse mix of tenants that include the State’s largest union, 1199 SEIU United Healthcare Workers.

The strategy was to acquire a Class A office building at below replacement cost that offered strong current income and the potential for income growth over the long-term.