Cushman & Wakefield has completed the sale of 100 Franklin St. to Clarion Partners for $48.75 million. The Cushman & Wakefield team, led by president Robert Griffin, vice chairman Edward Maher and executive director Matt Pullen, oversaw the transaction of the distinctive nine-story, 124,055 s/f office and retail property on behalf of Synergy Investments.
Featuring classic Boston architecture, 100 Franklin St. has been restored to embrace its historic past and incorporate modern upgrades. The limestone and marble building located near downtown's finest amenities, situated just two blocks from Post Office Sq. and seven blocks from the Boston Common.
"100 Franklin St. has a storied history of strong tenancy, consistently attracting some of the region's most recognized names, such as Webster Bank," said Pullen. "The building is currently 93% occupied to a diverse tenant roster with below-market rents, presenting a desirable combination of durable in-place income and notable upside potential."
Located in the city's Central Business District, 100 Franklin St. provides access to public transportation hubs, area parking facilities and major highways. In addition, the property benefits from adjacency to many of the region's notable bank, law, accounting, brokerage and real estate firms.
Cushman & Wakefield advises and represents clients on all aspects of property occupancy and investment. Founded in 1917, it has 259 offices in 60 countries, employing more than 16,000 professionals. It offers a complete range of services to its occupier and investor clients for all property types, including leasing, sales and acquisitions, equity, debt and structured finance, corporate finance and investment banking, appraisal, consulting, corporate services, and property, facilities, project and risk management.
For the New England area, Cushman & Wakefield maintains offices in Boston, Massachusetts; Manchester, New Hampshire; Hartford and Stamford, Connecticut; and Portland, Maine. To find out more about Cushman & Wakefield, please call 617.330.6966.