Hines, an international real estate firm, in partnership with the California Public Employees' Retirement System, has acquired a 270,000-square-foot office building in Wellesley, Mass. The value of the transaction was not disclosed. The joint venture purchased the property, Wellesley Gateway, from a partnership of The Druker Co. Ltd. and Boylston Properties Co. Situated on a 15.7-acre site, Wellesley Gateway is located 12 miles west of Boston. The four-story, class A building was completed in 2000. Designed by Elkus/Manfredi Architects, Wellesley Gateway is clad in red brick and features a two-story glass and aluminum atrium. Amenities include a full-service cafeteria, employee fitness center, coffee shop and surface and structured parking for 1,114 cars. Wellesley Gateway was fully leas...
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