Peter Joseph, with Eastdil Secured's Boston office, tellsGlobeSt.com that the 725 Concord Ave. property, located in theAlewife/Fresh Pond area, drew strong interest from investorsbecause of its prime location and its 96% occupancy, which includestenant Mt. Auburn Hospital.
"Like any other quality, well-located, well-leased, first-classoffice buildings, this was highly sought after by a variety ofinstitutional, operating fund and entrepreneurial investors," saysJoseph, noting that the hospital's long-term lease made it anattractive investment.
Boston-based Davis Marcus won title to the property because ofits strong reputation and quick closing terms, Joseph says.
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