Hines Global REIT has acquired Riverside Center from Equity Office. The office complex is located at 275 Grove Street in Newton, MA, a suburb of Boston. The 510,000 sqm property is 97 percent leased on a long-term basis to a diverse tenant including the world headquarters of e-publishing company Tech Target and pharmaceutical giant McKesson.
This is Hines Global REIT’s third acquisition in the Boston area. In 2011, it acquired 250 Royall in Canton, MA, and the Campus at Marlborough in Marlborough, MA.
Designed by Elkus Manfredi Architects and completed in 2000, Riverside Center comprises three separate four-story buildings connected by a pair of full-height glass-enclosed atria. Amenities include a café, fitness center with locker room and shower facilities, parking for 1,500 cars in an adjacent parking garage and close proximity to major transit routes.
