Piedmont Office Realty Trust sells two-building trophy office/research campus for $129m

Piedmont Office Realty Trust has sold a two-building trophy office/research campus in Woburn, Mass., for $129 million, according to the firm’s fourth quarter report.

Alexandria Real Estate Equities Inc. purchased the property.

Comprising 440,130 square feet in two interconnected buildings, 225 & 235 Presidential Way hosts essential support functions for one of Raytheon Technologies’ four business segments — Raytheon Missiles & Defense.

“225 & 235 Presidential Way benefits from tenured tenancy, with Raytheon Technologies having been located on site since 2004,” said Edward Maher, vice chairman at Newmark, which represented the sale. “The institutional-quality campus is fully customized to its requirements, featuring state-of-the-art infrastructure, highly visible signage overlooking Interstate 93 and on-site amenities, including a fitness center, full-service cafeteria, conference/meeting facilities and two structured parking garages.”