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John Hancock Markets Waltham Place For $40M

266 Second Ave John Hancock Life Insurance Co. is looking to divest itself of 266 and 275 Second Ave. in Waltham, better known as Waltham Place, and the company expects about $40 million for the property, according to industry sources.

The two office properties total about 220,000 square feet and are 27 percent vacant.

John Hancock took back the Class A office properties from Newton’s Bluestone Holdings LLC in June 2010. Bluestone was pushed to give back the buildings by the weight of more than $29 million in mortgage obligations. John Hancock was the lender for Bluestone when it bought the buildings for $44.1 million from an affiliate of the old Cabot, Cabot & Forbes firm in 2001.

Commercial & Industrial