The Boston office of Holliday Fenoglio Fowler L.P. (HFF) has closed the sale of 75 Pleasant St., a 125,521-square-foot, Class A office building in Malden.
The building is fully occupied by the state Department of Education.
HFF’s Coleman Benedict represented the seller, a joint venture of Kennedy Assoc. and Corcoran Jennison, and procured the buyer.
The property was completed in 2008, and was built with energy efficient systems and is a smart growth development that is within walking distance of a major public transportation station.
"In today’s environment, investors are very focused on stability of cash flow and quality of product and 75 Pleasant St. satisfies both of those qualifiers," said Benedict. "This is a great execution for Kennedy, who invested in the development of the asset on behalf of one of the firm’s corporate pension fund clients."
