crefeed.com | Boston Properties acquires Cambridge Center buildings

12/1/2006

Boston Properties acquires Cambridge Center buildings

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Boston Properties has purchased two premier office buildings it developed in the early 1980s in the Boston area, 4 and 5 Cambridge Center, for $186 million from Colony Realty Partners on Dec. 1, 2006.

Cushman & Wakefield's Capital Markets Group brokered the sale of the properties. The seller used Real Capital Markets to market the transaction.

The buildings, which make up a combined 436,047 sq. feet of space, are part of the Cambridge Center complex. At the time of sale they were 69 percent leased.

At 12 and 13 stories tall respectively, the buildings offer flexible office space with quality design and high-end finishes. The property sits on 2.7 acres and contains an 844-space garage.

Boston Properties is an owner, manager, and developer of office properties with a significant presence in Boston, Washington, D.C., Midtown Manhattan and San Francisco.

Colony specializes in acquiring and managing real estate assets throughout the United States.

Size: 436,047 sq. feet

Address: 4 & 5 Cambridge Center., Boston, Mass.

Built: Early 1980s

Filed Under: none

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