Needham, MA, April 03, 2015 --(PR.com
)-- RK Centers has acquired 50 Cabot Street in Needham, Massachusetts from an affiliate of The Bulfinch Companies for $9,875,000. The 42,000 square foot, two-story office building will be home to RK’s new Corporate Headquarters. Andrew Sacher of AIS Development represented RK Centers in the transaction.
50 Cabot Street is located at the intersection of First Avenue and Cabot Street with tremendous visibility from Route 128. It sits at the entrance of the Needham Crossing, gateway to the N2 corridor, which has seen significant investment by national office developers who are planning upwards of 800,000 SF of first class mixed use space. Raanan Katz and his team join recent additions, TripAdvisor and Residence Inn by Marriott.
“We felt that Needham was an excellent choice for our office. It is centrally located to our portfolio of properties and has great access and amenities,” said Kenneth Fries of RK Centers. “The MADOT 'Add a Lane' project will create a new off-ramp from Route 128 that will lead directly into the park and will further improve ingress and egress.”
RK Centers has been an active acquirer of properties in New England as of late purchasing 10 properties totaling over 1,300,000 SF over the past twelve months.RK Centers
is a privately held, family-owned real estate development company which was founded by Raanan Katz
who continues to serve as Managing Principal of the firm.. It currently owns 52 shopping centers totaling over 7,000,000 square feet of commercial space, with expertise in the acquisition, development, and management of "open air" regional and community shopping centers in New England and South Florida. All of RK Centers' leasing and management is performed in-house by company staff. Additional information about RK Centers is available at www.rkcenters.com
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