Dealmaker: MetLife Investment Management Acquires Massachusetts Office for $97M

MetLife Investment Management, New York, acquired office building 89 A Street in Needham, Mass. for $96.5 million.

NKF Capital Markets, New York, represented sellers Normandy Real Estate Partners, Washington, D.C., and Westbrook Partners, New York. NKF Capital Markets Vice Chairman Edward Maher, Executive Managing Director Matthew Pullen, Director James Tribble and Associate Director Samantha Hallowell oversaw the transaction of the 247,500-square-foot asset.

Vacuum cleaner manufacturer currently SharkNinja occupies the two-story property as its global headquarters. Pullen said the firm consolidated four locations across Needham and Newton to 89 A Street. The newly renovated property includes a two-story lobby, two interior courtyards, a cafeteria and a fitness center.

89 A Street is located within Founders Park, a 41-acre mixed-use campus that once served as headquarters for General Dynamics. Normandy Real Estate Partners has invested more than $350 million in the master-planned development, which also includes TripAdvisor’s corporate headquarters, a 128-key Residence Inn hotel and a 390-unit apartment complex slated for future delivery. The park offers immediate access to two interchanges along Interstate 95/Route 128 and shuttle service to the MBTA Green Line’s Newton Highlands station.