GI Partners Acquires Office Building In Boston, MA For $74.6M

Located at 51 Melcher Street in Boston, MA, an office property was recently sold in a closed transaction. The property spans an area of 102,727 square feet, with a price per square foot of $726. The sale was completed on September 21, 2021, with a total sale price of $74,600,000. The seller of the property was Zurich Alternative Asset Management, while the buyer was GI Partners. The brokerage team representing the deal consisted of Robert Griffin, Edward Maher, Matthew Pullen, and Samantha Hallowell from Newmark.

Summary of transaction details:

• Property Type: Office
• Transaction Amount: $74,600,000
• Square Footage: 102,727
• Price Per Square Foot: $726
• Address: 51 Melcher Street, Boston, MA
• Market: Boston, MA

The deal involved Zurich Alternative Asset Management as the seller, while GI Partners acted as the buyer. The transaction was facilitated by the brokerage team from Newmark, comprising Robert Griffin, Edward Maher, Matthew Pullen, and Samantha Hallowell. This successful closure further underscores the thriving commercial real estate market in Boston, MA, and demonstrates the continued interest in office properties within the area.