The Bulfinch Cos. Inc. has acquired the office building located at 256 Second Ave. in Waltham.

The single-story, 7,569-square-foot office building was previously owned and occupied by the Massachusetts Association of Realtors (MAR).

"We are very pleased with the sale and anticipate great opportunities in this market to relocate our headquarters," said 2011 Massachusetts Association of Realtors President Laurie Cadigan, broker-owner of Barrett & Co. in Concord. "Effectively, we are taking our own advice: Now is a great time to sell and buy."

The MAR plans to remain in the Waltham property for several months, while looking for new offices which better meet the organization’s needs. The group said it is looking for property to accommodate larger classroom and parking space.

Bulfinch is evaluating the redevelopment of the building for a number of uses including office, life sciences R&D and retail.

The building at 256 Second Ave. is the third addition to Bulfinch’s Waltham portfolio, which also includes Trapelo Corporate Center, 1560 Trapelo Road, occupied by Autodesk and Waltham Tech Center, 60 First Ave., headquarters for the New England Organ Bank.

Gary Holmes, Charles Detwiller and Arthur Amadei of R.W. Holmes Realtors represented MAR in the transaction.

"We are pleased to add 256 Second Ave. to the Bulfinch portfolio and we look forward to redeveloping this exceptional property on Route 128," said Bulfinch CEO Eric Schlager.