Officials at DivcoWest declined comment on the transaction whencontacted by GlobeSt.com, and efforts to contact Broadway and theseller's brokers at Cushman & Wakefield by press deadline wereunsuccessful. Nonetheless, sources indicate the deal has beenconsummated after an extended negotiation process. The agreementwas initially reported by GlobeSt.com in early summer, more thantwo months prior to the actual closing. The Capital Markets Groupat Cushman & Wakefield orchestrated the sale, with membersincluding Robert E. Griffin Jr., Marci Loeber and Edward Maher.

Based in San Francisco, DivcoWest has been reformulating itsportfolio in Massachusetts in recent months. While the company isin the midst of selling a half-interest in Lowell's CrossPointTowers to local investment firm Davis Marcus Partners, DivcoWesthas been adding to its holdings in other suburban Bostonsubmarkets. This spring, the company secured 210 Littleton Rd. inWestford and 100 Crosby Dr. in Bedford. As in the case of theWaltham complex, the earlier acquisitions were made on behalf of a$650-million investment fund. In those earlier purchases, DivcoWestpaid $61.5 million for 100 Crosby Dr. and $9.4 million for theWestford asset.

The vehicle, known as Market Street Capital Partners, is focusedon office properties in technology heavy markets such as thosewhere the Massachusetts assets are situated. Other areas targetedinclude Austin, TX; Denver; northern California and San Diego, withthe capital raised from institutional investors. The fund has beenin play since 2006.