Waltham-based Saracen Properties has partnered with New York City-based real estate investor Cadre on its first commercial acquisition in Greater Boston.

The joint venture acquired the 172,813-square-foot One Newton Place from Taurus Investment Holdings for $50.75 million. The occupied building at 275 Washington St. in Newton Corner is 93 percent occupied by such tenants as Adobe, Clearview Health and Lumicell. The building’s 24,000 square feet of retail space is leased to tenants including Core Power Yoga and Thai Amarin.

Boston-based Taurus acquired the property in 2013 for $34 million, when it was 94.5 percent leased. Taurus renovated the entrance, lobby and atrium and converted portions of the ground floor retail into office space.

“The investment was one that followed our standard business model of adding value into an already good building in a strong and improving location,” Taurus CEO Peter Merrigan said in a statement.

HFF’s Chris Phaneuf and Ben Sayles represented Taurus and procured the buyer.

“With new mixed used projects in the area and life science firms migrating from Cambridge into Watertown and Allston, we believe One Newton Place is perfectly positioned to support a growing workforce made up of employees living in both the city and the suburbs,” Malcolm Constable, director at Saracen Properties, said in a statement.

Eastern Bank provided $36.5 million in mortgage financing.