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Newton Office Building Sold to Capasso Realty

Jan 24, 2018 | Reprints | Unlock Link | Print

Newton-based Capasso Realty has acquired a 66,825-square-foot office building in Newton.

The 5-story building at 29 Crafts St. is anchored by tenants W.T. Rich Co., Steward Health Care System and Capital Advisors Group. The sale price was $13.9 million.

Newmark Knight Frank’s Boston-based capital markets team represented the seller, Chatham Investment Trust of Newton.

“Combining stable in-place cash flow with tangible upside potential in a premier Boston suburb, 29 Crafts St. represented a compelling investment opportunity,” NKF Associate Director Samantha Hallowell said in a statement. “The asset’s substantial rental rate discount to downtown Boston, walkable amenities and convenient commuter location generate consistent demand from a diverse tenant roster.”

B&T Daily