On behalf of Boston HSR South Boston LLC, Cushman & Wakefield of Massachusetts, Inc. recently sold 253 Summer St., two integrated office buildings totaling 175,000 s/f.
Cushman & Wakefield's Capital Markets Group of Robert Griffin, Jr., Edward Maher, Jr. and David Pergola in concert with downtown specialist David Martel exclusively represented the seller and procured the buyer - an affiliate of Synergy, a Boston-based investment and development firm - in the transaction.
253 Summer St. occupies an entire city block and serves as the gateway to Boston's revitalized Seaport District. Initially constructed in 1902 by the Boston Wharf Company as a dry goods warehouse, the property was extensively redeveloped in 1986 and 1999 into a prominent multi-tenant building with completely upgraded base building systems and modern tenant finishes.
The property consists of two fully integrated five and six-story buildings that function as one asset, and is currently 92% leased.
253 Summer St. is located along the Fort Point Channel, just two blocks from the city's Financial District and steps from South Station, Boston's major public transportation hub.