Two Buildings Trade for $53M

The fully leased 50,000-sf Milk Street building is occupied by Harvard Vanguard through 2012. The larger of the two properties, the 220,000-sf Two Oliver St. which counts among its tenants the Economic Development Research Group, caters to small to mid-sized tenants with pre-built, short-term rental office suites.

"After several years of downward pressure, the Boston office market has started to demonstrate signs of recovery," Cia Buckley, senior managing director of North American Investments at JER Partners says in a statement announcing the acquisitions. A JER spokesperson tells GlobeSt.com that the investment group selected the properties because their location between Post Office Square and the soon-to-be-completed Rose Kennedy Greenway provides the buildings with upside potential for its target tenant--the small to mid-sized users. Spaulding & Slye Colliers will serve as leasing and management agent for the Two Oliver St. building, JER says.