Westborough Office Sold For $20.1M
The former National Grid headquarters in Westborough, which is now leased by BJ's Wholesale Club, sold for $20.1 million earlier this month.
National Development and Charles River Realty Investors, which are affiliated real estate investment and development firms in Newton, purchased the 68.4-acre property just off of Route 9. It includes two buildings totaling nearly 321,000 square feet. There is another 500,000 square feet of potential expansion space on the site, according to the deal's broker, Boston-based Jones Lang LaSalle.
BJ's Wholesale Club moved from Natick to Westborough earlier this year and has a lease on the site that runs through 2026. The sale does not impact BJ's lease of the building.
According to Massachusetts land records, the deal took place in two transactions. MetroWest Realty LLC, which has a registered address that is the same as National Grid's Waltham headquarters, sold the larger building for $18.025 million on June 17 to 25 Research Dr. LLC, which was formed on June 8 and has the same address as National Development in Newton.
On the same day, 25 Research Dr. LLC also purchased 29 Research Dr. for $2.075 million from Massachusetts Electric Co., which is part of National Grid.
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