Boston, February 3, 2017 – Colliers International, Boston announced today that it has successfully facilitated the sale of Synergy Investment’s 26 West Street to Boston-based buyer, Eden Properties. The 53,000-square-foot, fully stabilized office and retail asset is located in the Ladder District neighborhood directly between the Downtown Crossing and Park Street MBTA stations, offering unrivaled public transit access. With over two-thirds of the building long-term leased to government union, SEIU, and the remainder first class retail space, 26 West offered buyers the best of both worlds – a steady and predictable income stream with substantial upside potential.
According to Executive Vice President Scott Dragos of Colliers International Boston’s investment sales team, "The sale of 26 West Street in excess of $400/SF demonstrates the strength and depth of the Class B downtown market. It is a product in high demand with tenants and investors right now, so with that trend and its location virtually atop two major MBTA stations, it’s no surprise that pricing shook out where it did."
26 West Street had significant buyer interest, receiving in excess of 15 offers, but ultimately Eden Properties was awarded the deal and added to their growing urban portfolio.
About Colliers International Group:
Colliers International Group Inc. (NASDAQ: CIGI; TSX: CIGI is an industry leading global real estate services company with more than 15,000 skilled professionals operating in 68 countries. With an enterprising culture and significant employee ownership, Colliers professionals provide a full range of services to real estate occupiers, owners and investors worldwide. Services include strategic advice and execution for property sales, leasing and finance; global corporate solutions; property, facility and project management; workplace solutions; appraisal, valuation and tax consulting; customized research; and thought leadership consulting.
Colliers professionals think differently, share great ideas and offer thoughtful and innovative advice that help clients accelerate their success. Colliers has been ranked among the top 100 outsourcing firms by the International Association of Outsourcing Professionals’ Global Outsourcing for 11 consecutive years, more than any other real estate services firm.
For further information, please contact:Christine Comey Lewis
InkHouse for Colliers International, Boston