Watertown Mall Sells for $130M

The Watertown Mall has sold for $130M.

The 260,867 SF building is 98 percent occupied by 10 tenants, including Target, Best Buy and the Registry of Motor Vehicles. The mall was acquired by Alexandria Real Estate Equities, who has been acquiring property in not only Watertown but elsewhere around Greater Boston at an aggressive pace in recent history. The site could likely be slated for a large scale lab or office development, however multiple long term leases will make the property remain as is for the foreseeable future.