{"id":1004315561,"date":"2019-04-12T05:52:40","date_gmt":"2019-04-12T13:52:40","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004315561"},"modified":"2021-09-10T09:50:07","modified_gmt":"2021-09-10T17:50:07","slug":"jv-buys-distressed-office-property-in-ma","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/jv-buys-distressed-office-property-in-ma\/","title":{"rendered":"JV Buys Distressed Office Property in MA"},"content":{"rendered":"<div id=\"attachment_1004315570\" style=\"width: 310px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/04\/8392.jpg\" target=\"_blank\" rel=\"noopener\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004315570\" data-attachment-id=\"1004315570\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/jv-buys-distressed-office-property-in-ma\/attachment\/8392\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/04\/8392.jpg\" data-orig-size=\"1000,775\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"20 Cabot Road. Image courtesy of Yardi Matrix\" data-image-description=\"&lt;p&gt;20 Cabot Road. Image courtesy of Yardi Matrix&lt;\/p&gt;\n\" data-image-caption=\"&lt;p&gt;20 Cabot Road. Image courtesy of Yardi Matrix&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/04\/8392.jpg?w=1000\" class=\"wp-image-1004315570 size-medium\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/04\/8392.jpg\" alt=\"\" width=\"300\" height=\"233\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/04\/8392.jpg 1000w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/04\/8392.jpg?resize=300,233 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/04\/8392.jpg?resize=768,595 768w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><p id=\"caption-attachment-1004315570\" class=\"wp-caption-text\">20 Cabot Road. <em>Image courtesy of Yardi Matrix<\/em><\/p><\/div>\n<p>A joint venture between National Development and Charles River Realty Investors has acquired 20 Cabot Road, a 116,490\u2013square-foot office building in Medford, Mass. Citizens Bank sold the property through foreclosure, Yardi Matrix data reports.<\/p>\n<p>Built in 1987, the four-story property features 368 parking spaces. The joint venture plans to undertake a major renovation of the building, which will result in improved lobby and common areas, a new fitness center, upgraded landscape and refurbished signage.<\/p>\n<p>Following the deal, Citizens Bank remained the property\u2019s anchor tenant and will continue to occupy 85,200 square feet for a 10-year period. Additionally, the new owner appointed Cushman &amp; Wakefield to handle leasing efforts for the remaining space, which offers availabilities ranging from 6,000 to 32,000 square feet. National Development will handle property management services.<\/p>\n<p>Located on&nbsp;8.3 acres on the Malden River, 20 Cabot Road sits adjacent to Wellington Greenway, a two-mile running, biking and walking trail. Orange Line\u2019s Wellington Station is located within walking distance. The suburban area has become a more affordable alternative for tech companies <a href=\"https:\/\/www.commercialsearch.com\/news\/repositioned-ma-office-building-lands-first-tenant\/\">looking to establish their businesses<\/a> in transit-orientated locations.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>National Development and Charles River Realty Investors purchased a 116,490\u2013square-foot asset in Medford, Mass. The new owners are set to upgrade the building&#8217;s common areas, landscape and signage.<\/p>\n","protected":false},"author":741,"featured_media":1004315570,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1490,21743,21783,21742,10,21747],"tags":[37900,33925,35869],"class_list":["post-1004315561","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-boston","category-deals","category-investment","category-latest","category-northeast","category-office","tag-charles-river-realty-investors","tag-citizens-bank","tag-national-development"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>JV Buys Distressed Office Property in MA - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/jv-buys-distressed-office-property-in-ma\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"JV Buys Distressed Office Property in MA\" \/>\n<meta property=\"og:description\" content=\"National Development and Charles River Realty Investors purchased a 116,490\u2013square-foot asset in Medford, Mass. The new owners are set to upgrade the building&#039;s common areas, landscape and signage.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/jv-buys-distressed-office-property-in-ma\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2019-04-12T13:52:40+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2021-09-10T17:50:07+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/04\/8392.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1000\" \/>\n\t<meta property=\"og:image:height\" content=\"775\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Corina Stef\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/jv-buys-distressed-office-property-in-ma\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/jv-buys-distressed-office-property-in-ma\\\/\"},\"author\":{\"name\":\"Corina Stef\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/73262f140f4b0a11baea2dd6f27beadf\"},\"headline\":\"JV Buys Distressed Office Property in MA\",\"datePublished\":\"2019-04-12T13:52:40+00:00\",\"dateModified\":\"2021-09-10T17:50:07+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/jv-buys-distressed-office-property-in-ma\\\/\"},\"wordCount\":197,\"image\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/jv-buys-distressed-office-property-in-ma\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2019\\\/04\\\/8392.jpg\",\"keywords\":[\"Charles River Realty Investors\",\"Citizens Bank\",\"National Development\"],\"articleSection\":[\"Boston\",\"Deals\",\"Investment\",\"News\",\"Northeast\",\"Office\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/jv-buys-distressed-office-property-in-ma\\\/\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/jv-buys-distressed-office-property-in-ma\\\/\",\"name\":\"JV Buys Distressed Office Property in MA - Commercial Property Executive\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/jv-buys-distressed-office-property-in-ma\\\/#primaryimage\"},\"image\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/jv-buys-distressed-office-property-in-ma\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2019\\\/04\\\/8392.jpg\",\"datePublished\":\"2019-04-12T13:52:40+00:00\",\"dateModified\":\"2021-09-10T17:50:07+00:00\",\"author\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/73262f140f4b0a11baea2dd6f27beadf\"},\"breadcrumb\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/jv-buys-distressed-office-property-in-ma\\\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/jv-buys-distressed-office-property-in-ma\\\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/jv-buys-distressed-office-property-in-ma\\\/#primaryimage\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2019\\\/04\\\/8392.jpg\",\"contentUrl\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2019\\\/04\\\/8392.jpg\",\"width\":1000,\"height\":775,\"caption\":\"20 Cabot Road. 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