The city of Woburn has purchased the 74.5-acre Whispering Hills development site on Cambridge Road in Woburn from Northeastern University for $6.7 million.

Colliers International Senior Vice President Robert Cronin represented both the seller and the buyer in the sales transaction.

Northeastern, which acquired the Whispering Hills site in the 1980s, originally intended to use the property to expand its suburban campus, according to a statement. The university is planning to use the proceeds from the sale to invest in its Boston campus.

"Although a number of very qualified development firms submitted purchase proposals to Northeastern on this site, Northeastern felt that the ‘right’ thing to do was to sell the property to the city of Woburn so that the local community can benefit from this wonderful open-space for many years to come," said Cronin. "It was a beneficial transaction for both the buyer and the seller."