0 39 JFK St. in Harvard Sq. Sold for $33.1M; Price Exceeds $1,600 per SF

Logo for Boston Realty AdvisorsThe Real Reporter covered the sale of 39 JFK St., noting, “one of Harvard Square’s most prominent buildings has changed hands at a mind-boggling price cresting $1,600 per sf, scooped up by a foreign investor in an off-market transaction orchestrated by Boston Realty Advisors. The $33.1 million exchange of 39 JFK St. offers a double dose of déjà vu, with the same buyer in 2012 acquiring three Harvard Square assets in two separate trades also negotiated by BRA’s team of Michael d’Hemecourt, Christopher D. Sower and Jason S. Weissman.”

To view other properties from BRA, jump over to BostonOfficeSpaces.com’s commercial listings.

0 Office Rents in Boston On the Rise

Commercial real estate construction in boston

Photo Credit: Boston Globe

As the recovery takes hold, office rents are rising accordingly across all submarkets in Boston’s Central Business District.

According to a Boston Globe editorial, “the Boston-area office market has almost fully recovered from the economic downturn, with companies filling up large chunks of space and driving a steady uptick in rents…the influx has pushed the vacancy rate below 10 percent for the first time since the end of 2009 — a threshold that often triggers larger rent hikes and even speculative construction activity.”

Additional details are available on the BostonGlobe.com..