Holliday Fenoglio Fowler, L.P. closes $60.2 million sale of 100% leased asset in Boston's Seaport District

Holliday Fenoglio Fowler, L.P. (HFF) has closed the $60.2 million sale of 51 Sleeper St., an eight-story, 150,363 s/f office building located in the city's Seaport District. The HFF team led by Coleman Benedict and Ben Sayles exclusively represented the seller, DivcoWest, in the transaction and procured the buyer, TIAA-CREF. By virtue of its location alongside the Fort Point Channel, 51 Sleeper features views of downtown Boston from each floor. The asset's location also provides for convenient access to and from I-93 and I-90 (Mass Pike) as well as public transportation hubs such as South Station and Rowes Wharf. At the time of sale, 51 Sleeper was fully leased to a diverse tenant roster that includes government entities, architects, and technology firms. "51 Sleeper is an irreplaceable asset in a tremendous location," said Benedict. "TIAA-CREF will enjoy terrific performance from this asset as the significant wave of development will only enhance the Seaport District by bringing businesses, residents, and visitors to the area." HFF and HFFS (HFF Securities L.P.) are owned by HFF, Inc. HFF operates out of 22 offices nationwide and is a provider of commercial real estate and capital markets services to the commercial real estate industry. HFF together with its affiliate HFFS offer clients a fully integrated national capital markets platform including debt placement, investment sales, equity placement, advisory services, loan sales and commercial loan servicing.