Alta Properties LLC is a real estate developer and investor that focuses on value-added real estate.

313 Washington Street

313 Washington Street

Newton, MA

Investment Partner
Grander Capital Partners

Project Type
Office/Retail

Acquisition Date
2016

Project Overview

This nearly fully-leased four-story, 81,052-square-foot office building located in the desirable Newton Corner submarket contains 7,959 square feet of street-level retail and an attached 140-space, below-grade parking garage. The property’s location, immediately off the Massachusetts Turnpike (I-90) and just eight miles from Downtown Boston, offers tenants a great alternative to Boston’s increasing rental rates.

313 Washington Street has exceptional historical occupancy and is leased to a diverse mix of tenants including, analytics, technology, law, and software firms. The walkable suburban location appeals to suburban office users’ increasing appetite for mixed-use environments with access to amenities including restaurants, retail, and hotels.

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

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