Boston-based Synergy Investments has acquired the 717,128-square-foot Center Plaza office complex from Shorenstein Properties for $365 million.

Shorenstein bought the property overlooking City Hall Plaza in January 2014 for $307 million. It obtained Boston Planning and Development Agency approval in 2015 for a $25 million capital improvements project, including updates to the 900-foot-long retail arcade, a 9,400-square-foot retail space addition and 21,000 square feet of additional office space. That project has not begun.

The Federal Bureau of Investigation vacated the property in November with the opening of its 268,000-square-foot office building in Chelsea.

The Government Center property consists of three 9-story buildings with 620,000 square feet of office space, 77,000 square feet of retail, 19,000 square feet of storage space and a 575-car garage.

HSBC Bank USA provided a $207 million mortgage. Newmark Grubb Knight Frank’s Robert Griffin, Edward Maher and Matt Pullen represented Shorenstein Properties.

Government Center Office Complex Sold To Synergy Investments

by Steve Adams time to read: 1 min
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