The 14-story structures are the 155,000-sf Biewend Building andthe 98,000-sf Tupper Building. The well-located properties are usedas medical laboratory, office and treatment space, housing suchoperations as TNE's administrative functions, the New England EyeCenter and the Adult Orthopedic Clinic. All but two floors of theTupper Building are used for lab functions, considered among themost attractive product types in the current CRE climate.

"We had a significant amount of interest," Grubb & Ellis Co.broker Philip Giunta tells GlobeSt.com, but Triple Net, based inSanta Ana, CA, beat out the cadre of local and national suitors.Giunta, who represented the sellers, declined to discuss specificsof the deal, as did officials from Triple Net beyond unveiling the10-year leaseback provision. According to information provided toGlobeSt.com, however, the Biewend Building traded for $54.9million, whereas the Tupper Building fetched $61.1 million.

TNE has had a presence in Downtown Boston for decades. Themedical giant has owned 15 Kneeland St. and 260 Tremont St. sincethe 1980s, and will continue to occupy all of the space as part ofits 10-year leaseback arrangement. Both buildings date to 1924 andwere overhauled in 1985 to accommodate the office/researchrequirements. The assets are located near the city's Chinatown andTheater Districts, areas enjoying substantial investment and newconstruction of residential, office and hotel product.