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Harvard Square Office Building Sold for $3.25M

Feb 9, 2018 | Reprints | Unlock Link

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Chatham Light Realty Corp. of Arlington has sold 15 Story St. and used the proceeds to acquire the Lynn Hospital Medical Building Trust at 225 Boston St. in Lynn as part of a 1031 exchange.

15 Story Street LLC of Medford acquired the Cambridge property, a 4,618-square-foot office building near Harvard Square in Cambridge, for $3.25 million.

Located on a 1.8-acre site, 225 Boston St. is a 3-story medical office building leased to 11 tenants served by a 125-space parking lot.

NAI Hunneman Executive Vice President Carl Christie and Assistant Vice President Dan McGee represented the seller and procured the buyer in both transactions. The Cambridge property. which includes off-street parking, received multiple offers, Christie said in a statement, while the Lynn property has expansion potential.

B&T Daily