Channel Center Holdings VAF, LLC, a joint venture of an affiliate of Commonwealth Ventures, LLC, and GEAM Value Add Realty Partners, as advised by GE Asset Management, sold 40 Channel Center, a 26,000 s/f building, to Spalding Tougias Architects, Inc. and Superior Dining Group, a joint-venture partnership. The brokers for the seller were CB Richard Ellis' team of William Crean, Ogden White and Jonathan Freni and Saint James Real Estate Advisors for the buyer.
Spalding Tougias Architects, a 15-year Fort Point Channel tenant will be moving its offices to one floor of the 5-story building, occupying 4,000 s/f of the space, while the law offices of Chu, Ring & Hazel, LLP will occupy an additional floor for 4,000 s/f. A restaurant operated by Superior Dining Group will occupy a portion of the lower floor and the street-level space.  The remaining space will be used for small businesses, working artists and public art exhibitions in conjunction with the Fort Point Cultural Coalition and the Fort Point Artist Community.
"We have been long-time tenants of the Fort Point Channel area and are inspired by its creative users," said Cheryl Tougias, president of Spalding Tougias Architects.