April 14, 2017
Synergy Investments acquired Center Plaza from a fund affiliated with San Francisco-based Shorenstein Properties for $365 million. The distinctive, curved 741,200-square-foot urban mixed-use asset is located next to Boston’s Government Center.
The acquisition is the largest so far for the Boston-based real estate firm. In 2014, Shorenstein acquired the office and retail complex for $307 million.
The nine-story Center Plaza complex is spread across three interconnected buildings, with pedestrian-friendly retail at the street level and 525 parking spaces. The property is roughly 60% occupied to such tenants as Localytics and Salsify Inc.
NGKF Capital Markets’ Robert Griffin, Edward Maher, Matthew Pullen and James Tribble handled the sale.
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