Braintree Office Building Sells for $14M at $123/SF

The office building located at 60 Columbian Street in Braintree, MA has been sold for 14M at 123/SF. The 113,280 SF property was sold on 07-07-2021, and the buyer and seller have not been disclosed. No brokers or lenders were involved in the deal.

The property was built in 1985 and is situated on a 6.5-acre lot. It features ample parking and is located in a prime location with easy access to major highways and public transportation. The property is currently 85% leased, with a mix of long-term and short-term tenants.

The sale price of 14M at 123/SF is in line with recent sales of similar office properties in the area. According to data from CoStar, the average sale price for office properties in Braintree over the past 12 months was $120/SF.

The buyer of the property is likely a real estate investment firm looking to add to their portfolio of income-producing properties. The seller may have been motivated to sell due to changing market conditions or a desire to liquidate assets.

Overall, the sale of 60 Columbian Street is a positive sign for the Braintree office market. With strong demand for office space in the area and limited supply, investors are likely to continue to seek out opportunities to acquire properties in the market.