William James College Pays $18M for Office Building

By CoStar
Jan 19, 2016

William James College has flipped from tenant to owner after the graduate college of psychology, formerly known as Massachusetts School of Professional Psychology, acquired the six-story, 85,788-square-foot office building at 1 Wells Ave. in Newton, MA from New England Development for $18 million, or about $210 per square foot.

The College first took occupancy at 1 Wells Ave. in 2012, initially occupying the first four floors before moving in to the remaining two floors in July 2015.

Chris Mullen at Transwestern RBJ represented the buyer in the transaction. Williams College secured tax-exempt financing for the acquisition through East Boston Savings Bank.