Rubenstein Properties Fund II L.P. has acquired an office park in Tewksbury for approximately $13 million.

The property, 495 Business Center, consists of four conjoined buildings totaling approximately 722,422 rentable square feet at 200, 300, 400 and 500 Network Center Drive. The site was the original headquarters of Wang Computers and is presently multi-tenanted with a mix of uses including office, R&D, laboratory, manufacturing warehouse and flex. 

Rubenstein Partners and its partner, Genesis Management Group, intend a significant renovation and repositioning of the property into predominantly creative class office space to leverage the asset’s physical attributes such as high ceilings and efficient floor plates.

"Our focus as a firm is on adding value to office assets.  Here, we see a great opportunity to enhance value, given the local demand for creative office space on one hand, and the physical attributes of the property given its historic use as R&D and manufacturing space on the other," David Rubenstein, founder and senior managing partner for the company, said in a statement.

Rubenstein Partners provides real estate investment and advisory services in office markets throughout the Eastern United States. Fund II pursues value-add opportunities to acquire, reposition, develop, redevelop, manage, operate and/or dispose of office properties in the Eastern United States.