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Capital Markets | Investment Properties
20 Seyon Street
Watertown, Massachusetts
20 Seyon Street :: Watertown, Massachusetts
Redevelopment Opportunity 7.5 Miles from Downtown Boston
Exclusive investment sale OPPORTUNITY

EXECUTIVE SUMMARY
CBRE has been retained to act as the Exclusive Agent for the marketing and sale of 20 Seyon Street in Watertown, Massachusetts.
This ±5.0-acre site improved with a ±94,268 SF industrial building is located on the Waltham/Watertown border. Just 7.5 miles
from downtown Boston, 20 Seyon Street provides convenient access to Cambridge and the surrounding suburbs. The property falls
within the Pleasant Street Corridor Zoning District, which allows for a variety of uses. 20 Seyon Street is uniquely positioned as a
highly visible site, close-in to Boston and ripe for redevelopment.
Investment Highlights
• ±5.0-acre parcel on the Waltham/Watertown
border
• Located within the Pleasant Street Corridor
Zoning District
• Potential uses include office/R&D,
laboratories, retail stores, restaurants, commercial,
recreation and commercial parking
• Baseline 1.0 FAR with a bonus up to 2.0 FAR
• Close to downtown Boston and Cambridge
with convenient access to surrounding suburbs
• Situated along a dense mixed-use corridor
consisting of national retailers and Class A
apartment communities
Excellent Market Dynamics for Office Space
Positioned in the Greater Cambridge/128-West Market, 20 Seyon Street
provides close proximity to Cambridge, relative affordability as compared
to downtown Boston or Cambridge and ample retail amenities to create
an attractive live and work environment for tenants. With Cambridge
considered one of the hottest submarkets in the country and office vacancy
rates at 6.1%, rents continue to rise and tenants are demanding alternative
space that provides similar access to world class institutions and venture
capital. This migration into the ever-tightening inner suburban markets such
as Watertown will lead to upward pressure on rents in 2013 and beyond.
Furthermore, 20 Seyon Street provides tenants with the ability to customize
for their particular use and lock in long-term quality office space in a great
location.
Pricing
20 Seyon Street is being offered for sale as-is at an asking price of
$6,500,000 ($69 per square foot), free and clear of debt.
1
Executive Summary

Asset Overview
With potential acquisition
of Lot 8, the site could
have 300+ parking spaces
(136 existing)
Lot 6
±2.96 acres Lot 7
±8.7 acres
Lot 8
±7.16 acres
Approximate
shared
easement
Jewish
Community
Day Shool
Repton Place
20 Seyon Street
±94,268 SF • ±5.0 acres
Potential to purchase
an easement to create
a 2nd egress here
Property Line
Not Part of Sale
Approx. Shared Easement
Asset Overview 2

Asset Overview (Continued)
Property Description
Address
20 Seyon Street
City, State, Zip Watertown, Massachusetts 02453
Total Site Area
Gross Building Area
Current Use
Zoning
±5.0 acres
±94,268 SF
Flex/manufacturing/warehouse
Pleasant Street Corridor District
Year Built 1951 (Partially renovated in 2010)
Clear Height
Column Spacing
Existing Loading
Structure
Parking
Water
Gas
Sewer
Electrical Service
HVAC
Fire Protection
Roof
Taxes
22' throughout
35' in high bay area
34' x 32' (typical)
Three (3) tailboard-height docks
One (1) recessed interior flatbed loading door with crane
Five (5) drive-in doors (one oversized) with potential to expand
Exterior block walls, steel frame
136 existing spaces* (±1.44/1,000 SF)
6'' main, Town of Watertown with separate 8'' main for fire service
National Grid
MWRA 10'' sanitary service from Watertown
National Grid; New 2,000 amps at 480/277; Nearby transformer can augment existing service
51,000 SF fully air-conditioned; Balance of building has suspended gas heaters
Wet system
Rubber Membrane
$1.14 PSF (FY 2013 estimate)
* Expandable to 300+ spaces with acquisition of adjacent lot.
3
Asset Overview

existing floor plan
Drive-in Doors
(expandable)
±7,312 SF
Available
1 Oversized
Drive-in Door
±36,791 SF
Available
High-Bay Area
±50,165 SF
Available
Fully Air Conditioned
Recessed interior
flatbed loading with crane
3 Tailboard
Doors
Asset Overview 4

Location & Market Overview
Greater Boston Overview
Greater Boston is one of the largest metropolitan areas in the United States with approximately 4.5 million residents. With an array
of vibrant communities, an extensive public transit network and a number of world-class amenities, Greater Boston is a desirable
area to live and work and one of the wealthiest regions in the United States. The city of Boston also ranks among the top U.S. cities
for real estate investment and continues as a model for stable economic growth. As one of the world’s most attractive places for
innovative companies to invest, the region maintains a high quality of life and a diversified employment base due in large part to
the strength of its education, healthcare and biotechnology industries.
Economic Drivers
The city has long been considered one of the most innovative areas in the world with a healthy, resilient economy, excellent infrastructure
and dozens of the world’s leading universities. The city is home to more than 20 colleges and over 30 hospitals and research
facilities such as Massachusetts General Hospital, Brigham and Women’s and Beth Israel. Boston is also one of the largest recipients
of funding from the National Institute of Health (NIH) and ranks as a global leader in the biomedical and life sciences industries.
Top employers in these fields include Pfizer, Genzyme, Vertex Pharmaceuticals, Biogen Idec, Millennium Pharmaceuticals and Millipore
Corporation.
In addition to its large education and healthcare sector – which accounts for more than 20% of all jobs within the region – Boston
is also supported by its strong-performing high-technology sector, which has posted significant job gains and has helped to drive the
state’s innovative “knowledge-based” economy. Massachusetts’ steady production of goods and services, a common measure of
economic growth, is also driving the state’s economic improvement, which is further supported by a high concentration of manufacturing
and technology firms within the region.
5 Location & Market Overview

Canterbury
Loudon
Barnstead
Farmington
16
N. Berwick
Wells
Kennebunk
Pittsfield
Strafford
Rochester
Berwick
95
1
93
oncord
89
n
fstown
llis
3
Merrimack
Madbury
Waltham/Watertown Market Overview
16
Located
Allenstown
Deerfield
adjacent to Cambridge, immediately north of Newton, and just six miles northwest of Boston, the Watertown/Waltham
Nottingham
market enjoys the advantages of a metropolitan commercial,
Lee Durham
residential, and social community while maintaining its own
Newington
Kittery
local characteristics and unity. Boasting a population of 93,429, residents are drawn by the area’s exceptional quality of life,
Hooksett
93
Newmarket
Candia
higher education, cultural offerings, diversified employment and well-developed Portsmouth infrastructure.
The Watertown/Waltham market benefits from access to every Strathamform of transportation. The area has excellent access to all major
Rye
293
101
expressways in eastern Massachusetts, Fremont including Brentwoodthe Massachusetts Turnpike, Storrow Drive, and Routes 128, 95, 93, 2, 16 and 20.
Auburn
Exeter
Manchester
N. Hampton
In addition, the area is Chester just 20 minutes from Logan International Airport and is served by a number of Massachusetts Bay Transportation
Authority (MBTA) bus and commuter rail lines.
125
293
E. Kingston
Express buses Hampton run from Watertown and Waltham to Boston’s Financial District
Sandown Danville
Hampton Falls
and Back Bay, while other routes run to Harvard Kingston Square Kensington and Central Square in Cambridge. The Fitchburg commuter rail line stops
in Waltham and travels Derryto the North Station terminal located directly
Seabrook
below the TD Garden.
Londonderry
93
101
Amesbury
The area is also located within several miles of
Merrimac
some of the most prestigious institutions in the country including; Harvard University,
Litchfield
Atkinson Plaistow
MIT, Boston College, Boston University, Brandeis University Newburyport and Bentley University. These institutions provide the local economy with
Windham
a steady stream of students, customers,
Haverhill
renters and
W.
talented
Newbury
young entrepreneurs.
Nashua Supporting the live/work/play atmosphere Groveland are numerous amenities including an eclectic mix of restaurants, shopping centers and
495
Methuen
parks. Major Pelham surrounding retail centers include the Georgetown Arsenal Mall, Rowley a 500,000 square foot enclosed Simon Mall anchored by Home
Depot and the Watertown Mall, Lawrence a 260,000 square foot community center anchored by Target. Meanwhile, a number of mixed-use
1
developments such
Dracut
Boxford
as the Arsenal on the Charles, a 700,000 square Ipswich foot redevelopment of office, retail and community meeting
Tyngsborough
N. Andover
95
space continue to transform the Andover area. Planned developments include Moody & Main on the Common, a residential and retail
3 Lowell
Topsfield
Rockport
project along Moody Street in Waltham, and the redevelopment
of the 120-acre Polaroid campus along Route 128
Hamilton Essex 128 Gloucester
Tewksbury
Middleton
Chelmsford
Wenham
Westford
93
495
N. Reading
Manchester into office and retail space.
Wilmington
Littleton
Carlisle
Reading Lynnfield Peabody
3
128 Wakefield
Salem
95
Bedford
Burlington
Marblehead
oxborough
Acton
Woburn
2
Saugus Lynn Swampscott
Concord
Melrose
Stow
1
Lexington Winchester 93
20 Seyon Street
Maynard
Lincoln 128
Medford
Malden
2
Revere
Nahant
95
Everett
Belmont
Chelsea
son
Sudbury
Waltham
Charlestown
Watertown
E. Boston Winthrop
rough
Wayland Weston
Allston
90 Brighton
Newton
Boston
borough
9
Roxbury
90
Framingham
Jamaica Plain
Wellesley
9
128
Roslindale Dorchester
Natick
Hull
Needham West Roxbury
Mattapan 93
95
Ashland
Hyde Park
3
Dedham Milton
Quincy
Sherborn Dover
Cohasset
kinton
Westwood
Hingham
1
Holliston
93
Braintree
Scituate
495
Norwood
Weymouth
Medfield
Randolph
Canton
Millis
3 Norwell
Milford Medway
Walpole
Holbrook
Norfolk
Stoughton Avon AbingtonRockland
Hanover
Marshfield
Sharon
24
don
Franklin
95
Brockton Whitman
ckstone
1 Foxborough
Pembroke
Hanson
Wrentham
495
Easton
E. Bridgewater
W. Bridgewater
Duxbury
pedale
Bow
Bedford
Dunstable
Bellingham
Pembroke
Hudson
Epsom
Billerica
Northwood
Salem
Raymond
Hampstead
Somerville
ArlingtonCambridge
Brookline
Stoneham
Epping
Barrington
Newfields
Danvers
128
Dover
Salisbury
Newbury
Beverly
95
Greenland
Elliot
1
S. Berwick
York
Virtually all of these projects involved the acquisition of
older, obsolete structures situated on fairly large tracks of
land and the transformation of them into contemporary
uses such as office, lab, retail or residential. Thus, 20
Seyon Street presents a unique value-add redevelopment
opportunity in an emerging area surrounded by a strong
mix of users.
Location & Market Overview 6

7
Location & Market Overview

20 Seyon Street
Watertown, Massachusetts
Location & Market Overview 8

Redevelopment uses
Office/R&D
Driven by robust demand from a strong mix of technology, information, biotechnology, engineering and financial services
companies, 20 Seyon Street is situated in one of the most competitive office markets in Greater Boston. Located within the Route
128 West market, which consists of 27.1 million square feet of office space, the region benefits from its proximity to Boston,
Cambridge and a number of higher education institutions.
The Route 128 West market also benefits from a resilient local economy with an unemployment rate of just 6.7%. The Route 128
West Office market experienced a robust 703,000 square feet of absorption in 2012, the third consecutive year this market has
posted positive traction. This activity has pushed vacancy down to just 13.4%, down 280 basis points year-over-year.
The Waltham/Watertown market, totaling 14.4 million square feet of space, posted 364,000 square feet of positive absorption
in 2012, accounting for over half of the total absorption in the entire Route 128 West market last year. This strong demand has
allowed landlords to seek a premium for their space. Asking rents in the Waltham/Watertown market average $27.63 per square
foot, nearly 100 basis points higher than the overall Route 128 West market.
Historical Asking Rents – Route 128 West vs. Metro North & South
$35
$30
Avg. Asking Rent ($)
$25
$20
$15
$10
$5
$0
2003 2004 2005 2006 2007 2008 2009 2010 2011 2012
Route 128 West Asking Rent
Metro South Asking Rent
Metro North Asking Rent
Leasing velocity in Waltham and Watertown continues to be strong as upwards of 140 different tenants are in the market with needs
totaling 3.6 million square feet. As tenants get priced out of more expensive markets like Boston and Cambridge, competition for
space in this already tight market will continue to heat up, leading to upward pressure on rents in 2013 and beyond. Therefore, in
addition to the continued use of 20 Seyon Street as an industrial warehouse, the property’s proximity to Cambridge and downtown
Boston, along with the surrounding retail amenities, give it further potential for Office/R&D redevelopment. The following provides
recent leasing activity across all three uses.
9
Redevelopment Uses

transportation access
Redevelopment Uses 10

Recent lease comparables
59 Wexford Street
Needham, MA
478–480 Pleasant Street
Watertown, MA
478–480 Pleasant Street
Watertown, MA
Building Type Warehouse/Distribution Office Office
Tenant Rentacrate, Inc. Mimecast North America Fresh Tilled Soil
Type New New New
Square Feet 12,500 33,669 14,230
Date Signed November-2012 October-2012 October-2012
Term 5.2 years 7.6 years 7.3 years
Work Allowance - $47.00 PSF $35.00 PSF
Rent Concession - - 3 months
Effective Rent $11.27 PSF/NNN $22.40 PSF/Gross $24.62 PSF/Gross
159 Wells Avenue
Newton, MA
411 Waverley Oaks Road
Waltham, MA
Building Type General Industrial R&D/Flex
Tenant Newton-Wellesley Hospital Boston Engineering, Inc.
Type New New
Square Feet 50,600 12,418
Date Signed May-2012 December-2011
Term 11 years 5.2 years
Work Allowance $39.53 PSF -
Rent Concession 12 months 2 months
Effective Rent $10.91 PSF/NNN $23.00 PSF/Gross
11
Redevelopment Uses

40 Smith Place
Cambridge, MA
10 Wilson Road
Cambridge, MA
41 Seyon Street
Waltham, MA
Building Type General Industrial Office R&D/Flex
Tenant
Hyperion Catalysis International
Northrop Grumman Aerospace
Systems
RepliGen Corporation
Type Renewal Renewal Renewal/Expansion
Square Feet 63,500 75,688 55,694
Date Signed October-2011 September-2011 August-2011
Term 5 years 7 years 11 Years
Work Allowance - $5.00 PSF Up to $1.77 million ($31.78 PSF)
Rent Concession - - -
Effective Rent $14.75 PSF/NNN $19.75 PSF/NNN $18.66 PSF/NNN
20 Seyon Street
Watertown, MA
43 Foundry Avenue
Waltham, MA
Building Type General Industrial Office
Tenant Target Education Development Corporation
Type Renewal New
Square Feet 50,970 120,520
Date Signed June-2011 July-2010
Term 1 year 10 years
Work Allowance - $47.00 PSF
Rent Concession - -
Effective Rent $7.25 PSF/NNN $22.75 PSF/Gross
Redevelopment Uses 12

Retail
20 Seyon Street is situated in a region with superior demographics with an estimated household income of $111,215 and a
population of approximately 851,531 within a seven-mile radius. The property benefits from its strategic location just three blocks
from Main Street, a major thoroughfare serving the Waltham and Watertown communities. Major employers within the immediate
region include Raytheon, National Grid and New York Life, which are located in some of Greater Boston’s premier office parks.
The combination of the property’s proximity to major employment centers, convenient access from Route 128 and I-90 and strong
area demographics makes it an ideal location for a strong-performing retailer.
Demographics
3 miles 5 miles 7 miles
2013 Estimated Population 167,397 427,398 851,531
2018 Projected Population 171,866 438,326 874,294
Growth 2013-2018 2.67% 2.56% 2.67%
2013 Estimated Average Age 39.52 38.72 38.00
2013 Estimated Households 67,348 172,843 342,558
2018 Projected Households 69,501 178,213 353,689
Growth 2013-2018 3.20% 3.11% 3.25%
2013 Est. Average Household Income $115,147 $114,633 $111,215
2013 Estimated Housing Units 70,862 181,957 361,545
2013 Est. Average Housing Value $525,660 $576,722 $572,042
13 Redevelopment Uses

Retail market aerial
95
128
2
LEXINGTON STREET
fi
PROPOSED
BENTLEY
UNIVERSITY
60
117
20
20
20 Seyon Street
BRANDEIS COLLEGE
95
128
2.28 mi
90

multi-housing
The property’s proximity to Cambridge, Harvard University, MIT and several other colleges will maintain a steady supply of tenants
for a multi-housing development. Cambridge/Watertown/Waltham multifamily housing effective rents have already passed their
2008 high of $2,147 per unit and are expected to grow significantly over the next few years. This climb in effective rents coupled with
declining vacancy rates will ensure that a multifamily housing development, especially in such a prime location as 20 Seyon Street,
will have high occupancy rates and favorable pricing for the landlord.
• Vacancy rates in Cambridge/Watertown/Waltham market were 3.5% in the fourth quarter of 2012
• Over 427,000 people live within a five-mile radius of 20 Seyon Street
• Projected rent growth totaling 14.8% over the next five years
• Proximate to numerous retail shops, restaurants and mixed-use developments
Residential Development Pipeline
Riverbend on the Charles
Developer Criterion Development
Partners
Units 170
Est. Delivery Q3 2013
Repton Place (phase 2)
Developer Mill Creek
Units 210
Est. Delivery Q4 2013
Note Joint venture between
Mill Creek and
Prudential as equity
partner.
220 Waltham Street
Developer Wood Partners
Units 155
Est. Delivery Q4 2013
20 Seyon Street
Watertown, Massachusetts
Acadia on the Charles
Developer Hines
Units 200
Est. Delivery Q2 2014
Note Currently in permitting
process. Expected
to break ground spring
2013.
15
Redevelopment Uses

Disclaimer
CBRE, Inc. operates within a global family of companies with many
subsidiaries and/or related entities (each an “Affiliate”) engaging
in a broad range of commercial real estate businesses including,
but not limited to, brokerage services, property and facilities management,
valuation, investment fund management and development.
At times different Affiliates may represent various clients
with competing interests in the same transaction. For example,
this Memorandum may be received by our Affiliates, including
CBRE Investors, Inc. or Trammell Crow Company. Those, or other,
Affiliates may express an interest in the property described in this
Memorandum (the “Property”) may submit an offer to purchase
the Property and may be the successful bidder for the Property.
You hereby acknowledge that possibility and agree that neither
CBRE, Inc. nor any involved Affiliate will have any obligation to
disclose to you the involvement of any Affiliate in the sale or purchase
of the Property. In all instances, however, CBRE, Inc. will act
in the best interest of the client(s) it represents in the transaction
described in this Memorandum and will not act in concert with or
otherwise conduct its business in a way that benefits any Affiliate
to the detriment of any other offeror or prospective offeror, but
rather will conduct its business in a manner consistent with the
law and any fiduciary duties owed to the client(s) it represents in
the transaction described in this Memorandum.
This is a confidential Memorandum intended solely for your limited
use and benefit in determining whether you desire to express
further interest in the acquisition of the Property.
This Memorandum contains selected information pertaining to
the Property and does not purport to be a representation of the
state of affairs of the Property or the owner of the Property (the
“Owner”), to be all-inclusive or to contain all or part of the information
which prospective investors may require to evaluate a
purchase of real property. All financial projections and information
are provided for general reference purposes only and are
based on assumptions relating to the general economy, market
conditions, competition and other factors beyond the control of
the Owner and CBRE, Inc. Therefore, all projections, assumptions
and other information provided and made herein are subject to
material variation. All references to acreages, square footages,
and other measurements are approximations. Additional information
and an opportunity to inspect the Property will be made
available to interested and qualified prospective purchasers. In
this Memorandum, certain documents, including leases and other
materials, are described in summary form. These summaries do
not purport to be complete nor necessarily accurate descriptions
of the full agreements referenced. Interested parties are expected
to review all such summaries and other documents of whatever
nature independently and not rely on the contents of this Memorandum
in any manner.
Neither the Owner or CBRE, Inc, nor any of their respective directors,
officers, Affiliates or representatives make any representation
or warranty, expressed or implied, as to the accuracy or completeness
of this Memorandum or any of its contents, and no legal
commitment or obligation shall arise by reason of your receipt of
this Memorandum or use of its contents; and you are to rely solely
on your investigations and inspections of the Property in evaluating
a possible purchase of the real property.
The Owner expressly reserved the right, at its sole discretion, to
reject any or all expressions of interest or offers to purchase the
Property, and/or to terminate discussions with any entity at any
time with or without notice which may arise as a result of review
of this Memorandum. The Owner shall have no legal commitment
or obligation to any entity reviewing this Memorandum or
making an offer to purchase the Property unless and until written
agreement(s) for the purchase of the Property have been fully executed,
delivered and approved by the Owner and any conditions
to the Owner’s obligations therein have been satisfied or waived.
By receipt of this Memorandum, you agree that this Memorandum
and its contents are of a confidential nature, that you will hold and
treat it in the strictest confidence and that you will not disclose this
Memorandum or any of its contents to any other entity without
the prior written authorization of the Owner or CBRE, Inc. You
also agree that you will not use this Memorandum or any of its
contents in any manner detrimental to the interest of the Owner
or CBRE, Inc.
If after reviewing this Memorandum, you have no further interest
in purchasing the Property, kindly return this Memorandum
to CBRE, Inc.
Disclaimer 16

Capital Markets | Investment Properties
For more information,
please contact:
Capital Markets
Bill Moylan
617.912.7029
bill.moylan@cbre-ne.com
Chris Angelone
617.912.7062
chris.angelone@cbre-ne.com
Nick Herz
617.912.6821
nick.herz@cbre-ne.com
Market Experts
Robert Gibson, Jr.
617.912.7072
robert.gibson@cbre-ne.com
Rachel Marks
617.912.7009
rachel.marks@cbre-ne.com
cbRE • 33 Arch Street, 28th floor • Boston, Ma 02110 • 617.912.7000, Fax 617.912.7001 • www.cbre-ne.com
© 2013 CBRE, Inc. The information above has been obtained from sources believed reliable. While we do not doubt its accuracy, we have not verified it and make no guarantee,
warranty or representation about it. It is your responsibility to independently confirm its accuracy and completeness. Any projections, opinions, assumptions or estimates
used are for example only and do not represent the current or future performance of the property. The value of this transaction to you depends on tax and other factors which
should be evaluated by your tax, financial and legal advisors. You and your advisors should conduct a careful, independent investigation of the property to determine to your
satisfaction the suitability of the property for your needs.
CBRE and the CBRE logo are service marks of CBRE, Inc. and/or its affiliated or related companies in the United States and other countries. All other marks displayed on this
document are the property of their respective owners.