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DivcoWest Sells Cambridge Office Property for $101.25M

Photo courtesy of Google Maps

DivcoWest has sold an 86,040-square-foot office building outside Harvard Square for $101.25 million after less than three years of ownership.

The buyer is Boston-based Intercontinental Real Estate and the price equates to $1,177 per square foot.

The property was originally completed in 1970 and received an updated lobby under DivcoWest ownership.

DivcoWest bought the property from Brickman Real Estate in 2017 for $66 million.

Office vacancies in the 1.9 million-square-foot Harvard Square/Massachusetts Ave. submarket stood at 6.6 percent at the end of the first quarter, according to a research report released Tuesday by Colliers International in Boston.

B&T Daily