Real Estate
Lab Developer Buys Woburn Raytheon Site For $124 Million
The weapons manufacturer plans to remain at the site through at least 2031, according to multiple reports.
WOBURN, MA — A major Boston-area lab developer has purchased two Woburn buildings occupied by Raytheon as part of plans for a Route 128 "mega-campus," the developer said Monday.
Alexandria Real Estate Equities Inc. paid $124.7 million for 225 and 235 Presidential Way Friday, it said in a securities filing Monday. Combined, the two buildings are just over 440,000 square feet.
Alexandria already owned the neighboring 19 Presidential Way, which is over 144,000 square feet. They also have plans to build a 112,000 square foot site at 215 Presidential Way, according to the filing.
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The defense and aerospace company recently extended its lease of the two sites through 2031, an extension that remains in place after the sale, the Boston Business Journal reported. The site was purchased from an Atlanta-based real estate investment trust, the Business Journal said.
Christopher Huffaker can be reached at 412-265-8353 or [email protected].
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