Office Building Sells in the Heart of Boston
- Oct 03, 2016
Boston—NGKF Capital Markets has completed the sale of 101 Tremont, a 77,245-square-foot office property located in downtown Boston.
The NGKF team worked on behalf of the seller, a joint venture between Paradigm Properties and Alcion Ventures. The 11-story asset was acquired by GLL Real Estate Partners. According to Suffolk County records, the property changed hands Sept. 22 for a little over $50.1 million. County records also show that 101 Tremont last traded in 2013 for a price tag of $9.7 million.
The office section of the fully-renovated property is 100 percent occupied by three healthcare companies. The ground floor retail part of 101 Tremont is occupied by Beantown Pub, Hollywood Nails, Silvertone and Ziggy’s Coffee Bar.
“Combining historic character with modern infrastructure, 101 Tremont represents an exceptional ‘creative core’ asset,” Edward Maher, NGKF vice chairman, said in prepared remarks. “Additionally, the building boasts an unmatched location along Boston’s Freedom Trail just steps from the MBTA’s Park Street station.”
Rendering courtesy of 101tremont