Robert E. Griffin, Jr., Edward C. Maher, Jr. and Marci B. Griffith of Cushman & Wakefield's financial services group, and John P. Fowler, Riaz A. Cassum and Shawn M. Herlihy of Holliday Fenoglio Fowler arranged the transaction.

"Independence Wharf is a unique property, both in its location and stature in the Boston market, and GE is fortunate to be a part of its future success," says Griffin, who is president of the New England area for Cushman & Wakefield. The building is located at 470 Atlantic Ave. on the waterfront in the city's financial district and is the site of the Boston Tea Party. The building is 25% leased and among its tenants are Regus Business Centers and Duane Morris LLP. Maher adds that a number of tenants have expressed interest in the building, with some potential tenants among those interested in buying the property.

Maher would not discuss the selling price but he tells GlobeSt.com that the "imputed" price per sf that the "virtually empty building" sold for "speaks well for the market." He notes that there was tremendous interest in the building, with 14 tours given in 10 days. The building was on the market for two weeks.

MCE, the lead contractor on the Big Dig, paid $52 million for the former factory building two years ago, and it converted it to Class A office space. The building has been struggling to fill its space since its renovation with Wellington Management backing out as an anchor tenant for 52,000-sf even before the building came online.