Boston – Colliers International announced that it has facilitated the sale of Synergy Investment’s 26 West Street to Boston-based buyer, Eden Properties. The 53,000-square-foot, fully stabilized office and retail asset is located in the Ladder District neighborhood directly between the Downtown Crossing and Park Street MBTA stations, offering unrivaled public transit access.
With over two-thirds of the building long-term leased to government union, SEIU, and the remainder first class retail space, 26 West offered buyers the best of both worlds – a steady and predictable income stream with substantial upside potential.
According to Executive Vice President Scott Dragos of Colliers International Boston’s investment sales team, “The sale of 26 West Street in excess of $400/SF demonstrates the strength and depth of the Class B downtown market. It is a product in high demand with tenants and investors right now, so with that trend and its location virtually atop two major MBTA stations, it’s no surprise that pricing shook out where it did.”
26 West Street had significant buyer interest, receiving in excess of 15 offers, but ultimately Eden Properties was awarded the deal and added to their growing urban portfolio.