0 100 Cambridge St. Has a Buyer

100 Cambridge St office building in Boston

Office building at 100 Cambridge Street in Boston

100 Cambridge Street has a buyer.  Intercontinental is a Boston-based real estate firm that focuses on acquisitions, asset management, portfolio management, finance, development, construction management and property management.

From TheRealReporter:

“That’s what we’re hearing,” says one market observer who maintains suitors were drawn to the opportunity listed by Colliers International “in droves” for a unique 590,000-sf facility that includes commercial tenants and state agencies occupying a tower that was revamped from an aging state-occupied structure into a mix of private and public space a decade ago. The initiative has lower levels housing multiple agencies and high-rise floors leased to top-name companies including Cannon Design, a nationally known healthcare architect in 27,500 sf on Floor 14 and law firm Prince Lobel occupying the 21st and 22nd floors. American Student Assistance fills 151,000 sf on six floors and Massachusetts General Hospital is on a trio of leases expiring from April 2015 to June 2016.

Additional building details are available on the property page: 100 Cambridge Street Boston

 

0 Cambridge Street Tower Nets Close to $50m for the Commonwealth

 

office space in boston at 100 Cambridge Street

Click on the image to view property details on 100 Cambridge Street in Boston

100 Cambridge Street is under agreement to be sold by the Commonwealth of Massachusetts.

The Boston Globe published details on the sale, noting  “MassDevelopment has found a buyer for its ground lease at 100 Cambridge St…Mark Sternman, a spokesman for MassDevelopment, declined to disclose the total sale price or the buyer, citing the fact that the deal has not yet been completed. He said the fully occupied tower includes 565,000 square feet of office space and 35,000 square feet of retail space…MassDevelopment redeveloped the tower and reopened it in 2004. The agency regularly received more than $20 million a year in lease revenue from the tower, reporting nearly $23 million for 2013.”

100 Cambridge Street Building Specs
• RBA:  565,157 SF
• Office:  530,618
• Retail:  34,539
• Stories:  22
• Typical Floor:  25,255
• Year Built:  1965
• Year Renovated:  2004

Partial Tenant List
• Ac Ppa Holdings, Llc
• Advance Auto Detailing
• American Student Assistance-Financial
• Barron & Stadfeld, P.C.
• Bright Horizons Family Solutions
• Brooks Pharmacy
• Cannon Designmove
• Citibank Llc
• Department of Revenue
• Dewey Square Group
• Dunkin Donuts
• ECG Management Consultants, Inc
• Energy and Environmental Affairs
• Mass General Hospital Corp
• Life Solutions Group
• Masiphumelele Corporation
• Massachusetts Clean Energy Center
• Miller Wachman LLP
• Penn Mutual Life Insurance
• Prince Lobel Tye LLP
• Rite Aid

 

0 100 Cambridge Street Goes up for Sale

Looking for an office tower downtown to buy?  The Commonwealth of Massachusetts is selling 100 Cambridge Street and looking to capitalize on the high prices that are being paid for Class A buildings around Boston.

100 Cambridge St. goes up for sale

Credit: Boston Globe

The building is:
·         22 Stories
·         565,157 Rentable Square Feet
·         Built in 1965
·         Renovated in 2004
·         Typical floor size is 22,255 Rentable Square Feet

Some of the buildings tenants re:
·         Department of Revenue
·         Prince Lobel Tye LLP
·         Miller Wachman LLP
·         Mass General
·         Penn Mutual Life Insurance Company

Marty Jones, chief executive of MassDevelopment, commented in a Boston Globe article that the “state-owned building is not a development opportunity, but she said it should prove attractive to buyers because of steadily rising office rents in downtown Boston. Built in 1965, the tower, formerly known as the Leverett A. Saltonstall Office Building, fell into disrepair and was gutted by MassDevelopment in 1999. The agency added 75 condominiums at the base of the building, along with 25,000 square feet of retail stores.”

You can read the full article on the Boston Globe’s website.