"The sale of Bay Colony Corporate Center is a real win-win situation," Robert E. Griffin, Jr., president, New England Area, of Cushman & Wakefield, says in a statement.
Regarded as one of the premier office park in New England, Bay Colony is a 987,923-sf, four-building complex that overlooks the Cambridge Reservoir. The park is currently 91% occupied, with tenants that include Private Healthcare Systems, PRTM, SAP America and Oscient Pharmaceuticals.
The capital-market investment-sales team of Griffin, Edward C. Maher Jr., and Marci Griffith Loeber represented the seller and procured the buyer. The team also recently closed on the $175-million sale of the Riverfront Office Park to Rreef and the $52.5-million sale of Sterling Medical Center to Children's Hospital of Boston.
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