Hines sells Riverside Center in Newton, Massachusetts

JLL completes the $235M sale of the trophy quality office building on behalf of Hines

January 21, 2020

BOSTON, January 21, 2020 JLL Capital Markets announced today that it has closed the $235 million sale of Riverside Center, a 509,702-square-foot, trophy-quality office building in Newton, Massachusetts.

JLL exclusively represented the seller, Hines, and procured the buyer.

Riverside Center is one of Boston’s premier transit-oriented assets, boasting high-quality physical infrastructure, flexible floorplates and leading onsite amenities such as structured parking, a newly renovated café and fitness center. Located at 275 Grove Street, Riverside Center is immediately adjacent to the MBTA’s Riverside Green Line station, which provides connectivity to Boston’s urban core.  Additionally, the property has an unparalleled location directly off of the Route 128/Mass Pike interchange providing access to Downtown Boston and the area’s surrounding affluent communities.

JLL’s Capital Markets team representing the seller was led by Coleman Benedict, Matthew Sherry, Kerry Hawkins and Ben Sayles.

JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment advisory, debt placement, equity placement or a recapitalization. The firm has more than 3,700 Capital Markets specialists worldwide with offices in nearly 50 countries.

For more news, videos and research resources on JLL, please visit the firm’s U.S. media center Web page: U.S. newsroom.

About JLL

JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. Our vision is to reimagine the world of real estate, creating rewarding opportunities and amazing spaces where people can achieve their ambitions. In doing so, we will build a better tomorrow for our clients, our people and our communities. JLL is a Fortune 500 company with annual revenue of $16.3 billion, operations in over 80 countries and a global workforce of more than 93,000 as of September 30, 2019. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.

About Hines

Hines is a privately owned global real estate investment firm founded in 1957 with a presence in 219 cities in 23 countries. Hines has approximately $124.3 billion of assets under management, including $63.8 billion for which Hines provides fiduciary investment management services, and $60.5 billion for which Hines provides third-party property-level services. The firm has 148 developments currently underway around the world. Historically, Hines has developed, redeveloped or acquired 1,362 properties, totaling over 449 million square feet. The firm’s current property and asset management portfolio includes 514 properties, representing over 222 million square feet. With extensive experience in investments across the risk spectrum and all property types, and a pioneering commitment to sustainability, Hines is one of the largest and most-respected real estate organizations in the world. Visit hines.com for more information.