Photo courtesy of BXP

BXP sold its 140 Kendrick St. office campus in Needham to a partnership of Lincoln Property Co. and Cross Ocean Partners for $132 million.

Comprising three connected buildings, the 409,197 square-foot property is more than 96 percent occupied by tenants including Wellington Management, Clarks and Walker & Dunlop.

The 140 Kendrick St. property was developed by BXP, the nation’s largest office REIT, in 2000 for the headquarters of Parametric Technology Corp.

After PTC relocated to Boston’s Seaport District, BXP launched a $27.8 million capital improvement and sustainability program and attracted new tenants including Wellington Management.

The asset manager relocated its suburban offices from 100 Campus Drive in Marlborough to Building A at 140 Kendrick St. in 2021, leasing 106,000 square feet.

“140 Kendrick Street exemplifies the perfect blend of quality, prime location, and long-term stability,” Lincoln Property Co. Senior Vice President Scott Faber said in a statement.

In October, BXP executives outlined plans to divest 23 properties for $1.9 billion by the end of 2027, and $700 million by the end of this year. Pricing for office investment sales is rebounding amid growing availability of equity investors and debt, CEO Owen Thomas said.

Cross Ocean Partners Management, which has U.S. offices in Greenwich, Connecticut, has $10.7 billion in assets under management.