Jones Lang LaSalle has negotiated the sale of 485 Mass. Ave., a 35,000 s/f office and retail building. The property was sold by MassAve Realty Trust to Meritage Props. for $10 million. The sale included a surface parking lot at 49 Bishop Allen Dr. with 43 parking spaces. JLL managing directors Catherine Daume, Michael Smith, Scott Jamieson, and Gail McDonough, along with vice president John Osten, exclusively represented the seller and procured the buyer.
Located in Central Square, 485 Mass. Ave. has five stories with retail on the first floor and office space above. IDEO, one of the largest and most decorated design consultancies in the world, relocated to the property from Lexington earlier this year. The company leased the fourth and fifth floors.
According to Jamieson: "It was a pleasure to represent Arnold Goldstein in the sale of this exceptionally well-located and well-maintained asset."