HFF closes $105.625 million sale of a three building office portfolio

HFF has closed sale of three best-in-class, creative office assets totaling 221,064 s/f and 35 parking spaces. The three buildings are all located in the city's Seaport District. HFF exclusively marketed the offering on behalf of the seller, DivcoWest, and procured buyer Multi-Employer Property Trust (MEPT), an institutional investor advised by Bentall Kennedy, in this $105.625 million transaction. The offering included 300 A St., 313 Congress St. and 330 Congress St., all of which are former warehouse buildings that have been converted to high-quality creative spaces featuring exposed ceilings, open floor plans, sandblasted brick walls and timber columns. The buildings are steps from South Station, the city's major multi-modal transportation hub and feature immediate access to an abundant amenity base including numerous dining, retail and entertainment destinations. The HFF investment sales team representing the seller was led by senior managing director Coleman Benedict, director Ben Sayles and real estate analyst Patrick McAneny. "The Fort Point Channel area is one of Boston's most exciting neighborhoods," said Benedict. "In this acquisition, MEPT and Bentall Kennedy have acquired irreplaceable assets in a submarket that is marked by massive tenant in-migration and strong barriers to entry."