{"id":1004761438,"date":"2025-06-13T11:39:23","date_gmt":"2025-06-13T19:39:23","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004761438"},"modified":"2025-07-04T00:30:57","modified_gmt":"2025-07-04T08:30:57","slug":"riverside-properties-acquires-boston-area-asset","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/riverside-properties-acquires-boston-area-asset\/","title":{"rendered":"Riverside Properties Acquires Boston-Area Asset"},"content":{"rendered":"<div class=\"wp-block-image\">\n<figure class=\"alignright size-large is-resized\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/06\/160GouldSt.png\"><img loading=\"lazy\" decoding=\"async\" width=\"800\" height=\"620\" data-attachment-id=\"1004761440\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/riverside-properties-acquires-boston-area-asset\/160gouldst\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/06\/160GouldSt.png\" data-orig-size=\"800,620\" 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=\"160GouldSt\" data-image-description=\"\" data-image-caption=\"&lt;p&gt;Riverside Properties purchased 160 Gould St. from James Campbell Co., in Needham, Mass. Image courtesy of CommdercialEdge. &lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/06\/160GouldSt.png?w=800\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/06\/160GouldSt.png?w=800\" alt=\"Exterior of 160 Glould St. office building in Needham, Mass.\" class=\"wp-image-1004761440\" style=\"width:372px;height:auto\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/06\/160GouldSt.png 800w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/06\/160GouldSt.png?resize=300,233 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/06\/160GouldSt.png?resize=768,595 768w\" sizes=\"auto, (max-width: 800px) 100vw, 800px\" \/><\/a><figcaption class=\"wp-element-caption\">Riverside Properties purchased 160 Gould St. in Needham, Mass., from James Campbell Co. <em>Image courtesy of CommdercialEdge. <\/em><\/figcaption><\/figure><\/div>\n\n\n<p>Riverside Properties has acquired the Needham Corporate Center at 160 Gould St. in Needham, Mass. Newmark represented the seller, James Campbell Co., in the transaction. <\/p>\n\n\n\n<p>Newmark\u2019s Co-Head of U.S. Capital Markets&nbsp;Robert Griffin, along with Boston Capital Markets Executive Vice Chairman&nbsp;Edward Maher, Vice Chairman&nbsp;Matthew Pullen, Executive Managing Director&nbsp;James Tribble, Senior Managing Director&nbsp;Samantha Hallowell&nbsp;and Associate Director&nbsp;William Sleeper, along with Boston Private Capital Associate Directors&nbsp;Joseph Alvarado&nbsp;and&nbsp;Casey Valente, led the transaction. The team represented the seller and secured the buyer.<\/p>\n\n\n\n<p>Located under 20 miles from Boston, the three-story, 135,272 square-foot low-rise property was built in 1987. Floorplates at the property total approximately 45,000 square feet. The office is off Interstate 90 and sees more than 11,000 cars drive past the building daily, according to CommercialEdge. The property features 434 parking spaces, controlled access and a cafe.<\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity has-very-light-gray-to-cyan-bluish-gray-gradient-background has-background is-style-wide\"\/>\n\n\n\n<p><strong>READ ALSO<\/strong>: <a href=\"https:\/\/www.commercialsearch.com\/news\/office-conversions-demolitions-outpace-new-construction\/\" target=\"_blank\" rel=\"noreferrer noopener\">Office Conversions, Demolitions Outpace New Construction<\/a><\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity has-very-light-gray-to-cyan-bluish-gray-gradient-background has-background is-style-wide\"\/>\n\n\n\n<p>CommercialEdge research shows that James Campbell Co. purchased the 4.1-acre property in 2012 from Nuveen Real Estate for $26.4 million. The same source lists Leader Bank, The Bulfinch Group and Prudential among the property&#8217;s tenants.<\/p>\n\n\n\n<p>Newmark\u2019s Matthew Malatesta has been the property\u2019s leasing broker and assisted with local leasing expertise for the transaction, with Financial Analyst Grady Zink offering analytical support.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-boston-office-space-trades-at-discounted-rates\">Boston office space trades at discounted rates<\/h2>\n\n\n\n<p>This year has been off to a strong start for office sales across the nation, with a <a href=\"https:\/\/www.commercialsearch.com\/news\/office-investment-activity-picked-up-in-q1-2025\/\" target=\"_blank\" rel=\"noreferrer noopener\">CommercialEdge report<\/a> showing that during quarter one, 61.6 million square feet traded for a combined $10.1 billion across 486 transactions. This was an increase from the previous year&#8217;s first quarter. With <a href=\"https:\/\/www.commercialsearch.com\/news\/bostons-office-market-outperformed-in-2024\/\" target=\"_blank\" rel=\"noreferrer noopener\">Boston leading the nation <\/a>in deliveries, most new buildings were life-science-related.<\/p>\n\n\n\n<p>While the Boston market is recording strong numbers for 2025, properties are selling at discounted rates. Nuveen sold a <a href=\"https:\/\/www.commercialsearch.com\/news\/nuveen-sells-boston-high-rise-for-227m\/\" target=\"_blank\" rel=\"noreferrer noopener\">Boston high-rise<\/a> for $227 million\u2014$100 million below the asset\u2019s evaluation. Nuveen had purchased the property for $273 million.<\/p>\n\n\n\n<p>Most recently, James Campbell Co., <a href=\"https:\/\/www.commercialsearch.com\/news\/rjk-picks-up-boston-office-building\/\" target=\"_blank\" rel=\"noreferrer noopener\">sold a 160,482-square-foot office property<\/a> for $11.8 million in Medford, Mass. In 2014, the asset traded for $30.3 million.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The previous owners purchased the property in 2012. <\/p>\n","protected":false},"author":3749,"featured_media":1004761440,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1490,21783,21742,10,21747],"tags":[38756,50999],"class_list":["post-1004761438","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-boston","category-investment","category-latest","category-northeast","category-office","tag-james-campbell-company","tag-newmark"],"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>Riverside Properties Acquires Boston-Area Asset - Commercial Property Executive<\/title>\n<meta name=\"description\" content=\"Newmark facilitated the sale of 160 Gould St., in Needham, Mass. 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