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Eugene Lee, Knotel's chief investment officer and global head of real estate, says the firm is seeing strong customer demand in Boston expects the firm to have "many more buildings (in Boston) in 2020."
The 164,360-square-foot building is currently 85% leased to 17 high quality tenants at below market rents. The property has undergone $4.2 million in exterior building upgrades, site work upgrades and interior improvements over the past two years.
Lightstone is bullish on affordable hotel investments, viewing the asset type as not only lucrative but recession-proof in the case of a market slow down.