Westwood Investors LLC, an affiliate of Berwind Property Group, announced the execution of a 10-year lease agreement with New York Life Insurance Co. for 81,939 square feet in Westwood, Mass.
The value of the transaction was not disclosed.
The property, located at 690 Canton St., is a 164,695-square-foot building. New York Life Investment Management LLC (NYLIM), a subsidiary of New York Life, will occupy the entire leased space, which includes the first floor of the three-story building, as well as a majority of the second floor. NYLIM is relocating from 846 University Ave. in Norwood, Mass.
The building was 100 percent leased at the time of lease.
Mark Roth, J.P. Plunkett and Mitti Liebersohn of Cushman & Wakefield represented NYLIM in the deal
BPG purchased 690 Canton St., on behalf of its BPG Investment Partnership VI LP, in May 2003 and has made extensive capital improvements to the building.
New York Life Insurance Co., a Fortune 100 Company, is the largest mutual life insurance company in the United States and one of the largest life insurers in the world, according to a press statement.
Berwind Property Group Ltd. is a Philadelphia-based, privately held real estate investment company.
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