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Boston & New England  + Metro Boston  + Office  |  July 21, 2023
Legacy Real Estate Ventures has acquired its second Newton, MA office property from Wingate Companies
Paul Bubny
By: Paul Bubny

Legacy Real Estate Makes Second Buy at Newton’s Wells Ave. Business Park

Newmark arranged the sale of 70 Wells Ave., an office building located within Wells Avenue Business Park in Newton, MA. Legacy Real Estate Ventures paid $4 million-plus to acquire the 28,244-square-foot property from Wingate Companies.

Co-head of U.S. capital markets Robert Griffin and associate directors Joseph Alvarado, George Demoulas and Casey Valente represented the seller and procured the buyer. The deal represents the second repositioning opportunity Legacy has acquired from Wingate within the business park.

“This asset is an exceptional complement to ownership’s recently acquired 189 Wells Avenue, the 31,291-square-foot office building they acquired from Wingate Companies last June, and we look forward to witnessing continued milestones at the site,” said Alvarado.

Wells Avenue Business Park is home to a diverse office, life science, medical and academic tenant roster. Nearby users include Bright Horizons, CyberArk, Karyopharm Therapeutics, Mass General Brigham’s Newton-Wellesley Ambulatory Care Center, the UMass Amherst Mount Ida Campus and William James College.

Read More News Stories About: Newmark
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Inside The Story

Newmark's Alvarado

About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).
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