Eversource buys MetroWest office building for $23M

Photo | Courtesy of Google Maps, Image captured 2019 4 Technology Drive in Westborough

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By Timothy Doyle

Eversource Gas Co. of Massachusetts, a subsidiary of Eversource Energy, has purchased an office building at 4 Technology Drive in Westborough for $23 million.

"Since Eversource acquired Columbia Gas, we have continued operating out of the Westborough offices as tenants through an existing lease agreement. We continually evaluate our company and employee needs at each of our facilities, as well as any future needs, as we work every day to provide safe and reliable service to our customers. For those reasons, we recently made the decision to buy the Westborough space that we already occupied, and we do not anticipate this purchase impacting any of our other facilities at this time," read an Eversource statement on Wednesday.

In two Monday transactions, Eversource purchased the approximately 120,000-square-foot office building from FD Special Opportunities III-A LLC and Waquoit Bay LLC, according to the Worcester District Registry of Deeds. Both companies are affiliated with Ferris Development Group of Southborough.

Ferris Development purchased 4 Technology Park and 8 Technology Park in 2015 for $24.5 million. The company then sold 8 Technology Park in 2021 for $18.3 million.

Eversource has dual headquarters in Hartford and Boston, employs 9,600 people, and serves 4.4 million customers across Connecticut, Massachusetts, and New Hampshire. The company reported $12.3 billion in revenue in 2022, up from $9.9 billion in 2021, according to the company’s annual report.

NSTAR Electric of Boston and Aquarion Water of Bridgeport, Conn. are subsidiaries of the publicly-traded utility giant.