Continuum Development Company, Fortuna Realty Group, And Glacier Global Partners Acquire Office In Boston For $24M

The property asset involved in this transaction is located at 95 Berkeley Street, Boston, MA. The office building spans approximately 98,000 square feet and was sold for $24,000,000, resulting in a price per square foot of $245. Prior to its sale, the building was underutilized with a 12% occupancy rate.

Summary of transaction details:

• Property Type: Office
• Transaction Amount: $24,000,000
• Square Footage: 98,000
• Price Per Square Foot: $245
• Buyer: Continuum Development Company, Fortuna Realty Group, & Glacier Global Partners
• Seller: Richard Ressler - CIM Group
• Market: Boston, MA

The deal was represented by Richard Ressler from CIM Group, who had previously filed plans to convert the office building into 92 apartments with ground-floor retail before putting the property on the market.