Alexandria Real Estate Equities Inc. purchased the 510,000-square-foot office complex Riverside Center in Newton, Mass., from a subsidiary of real estate firm Hines for $235 million, the Boston Business Journal reported, citing a Middlesex County deed.
The property is nearly fully leased, leaving no immediate room for redevelopment, the news outlet said. Current tenants include Atrius Health and TechTarget.
JLL's local capital markets team represented Hines on the transaction, the Boston Business Journal noted, citing a source close to the deal.
Alexandria declined the publication's request for comment on the acquisition, while Hines and JLL representatives were not immediately available for comment.