A Premium Office/R&D Asset Located in Waltham Boston s Premier Top Suburban Market. 101 First Avenue

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1 A Premium Office/R&D Asset Located in Waltham Boston s Premier Top Suburban Market

2 EXECUTIVE SUMMARY HFF has been exclusively retained to market the fee simple interest in (the Asset or the Property ), a dynamic multi-tenant asset set in the heart of Boston s top suburban locale. Comprising 54,967 square feet spread across two conjoining buildings, the Asset was originally constructed in 1968, expanded in 1980 and thoughtfully renovated over time. The Property sits on 2.35 acres of land and features parking for 139 vehicles. Today, the Asset is fully leased to four tenants, two of which utilize it for their world headquarters while one uses it as their regional headquarters. Asset Overview: 54,967 TOTAL SF 37% DISCOUNT TO MARKET RATES 100% LEASED occupies an enviable location in suburban Boston s top submarket. The asset is located a short distance from the key Route 128/I- and I-90 (Mass Pike) interchange, providing convenient access from every point on the compass. Perhaps more importantly, the Asset enjoys executive access to the affluent bedroom communities of Lincoln, Weston, Wellesley and Newton. is being offered free-and-clear of existing financing, allowing investors to deploy a significant amount of equity or to take advantage of today s attractive debt markets.

3 UNPARALLELED ACCESS Reservoir Woods West Reservoir Woods East West Street Winter Street Cambridge Reservoir Second Avenue Third Avenue Totten Pond Rd

4 INVESTMENT DRIVERS 30A 30A 29B 29B Market Dynamics: is strategically located in Waltham, MA the heart and soul of Boston s suburban market. The Asset benefits from excellent market fundamentals, including single-digit vacancy rates, limited speculative development, patient and well capitalized landlords, increasing rents, and positive net absorption. LE X I N GTO N 54B A Access & Location: is uniquely sited between Route 2 to the North and the key Route 128/I-90 (Mass Pike) interchange to the South (seven minute drive). The Asset is also located within close proximity to the affluent bedroom communities of Lincoln, Weston, Wayland, Wellesley, Newton and Concord. Winch Le is particularly compelling due to the following: A Strong Demographics: Within a five mile radius, the average house hold income is $145,545 with a population of 199,808. A testament to the affluence of the area, the median owner-occupied housing value is $637,133. These metrics are well above state and national averages. ayland WAYLAND Stable Cash Flow & Strong Tenancy: The Asset is currently 100% leased to four quality tenants for a weighted average lease term of 3.5 years. Tenants include engineering & technology giant Robert Bosch Corporation (US subsidiary of German firm with 70.6 billion of revenue in 2015), Keltron Corporation (a leading fire alarm & security monitoring firm), Impole Corporation (businessto-business sales consulting firm), and the Greater New England chapter of the National Multiple Sclerosis Society. To B ost on: $ Natick Arlington m iles WALTHAM 26 Waltham Weston Watertown WESTON N E W TONewton N Below Market Rental Rates: is currently leased 13 at rental rates which are significantly below the average asking rates for the 128 West Submarket. Incoming investors will be able capitalize on the opportunity to increase rents upon the roll of the 9 existing tenancy, as this Property is situated in one of Boston s strongest suburban office markets with asking rents exceeding $30.00/SF WELLE S LE Y Wellesley 20B 19B 19A Needham 17 M

5 hfflp.com HFF BOSTON One Post Office Square, Suite 3500 Boston, Massachusetts Tel COLEMAN BENEDICT Senior Managing Director CHRIS PHANEUF Managing Director BEN SAYLES Director PATRICK MCANENY Senior Analyst ANDREW GRAY Senior Analyst FREDERIC WITTMANN Senior Managing Director