Photo courtesy of Eastdil Secured and Oxford Properties Group

The record-breaking $825.1 million sale of One Memorial Drive demonstrates the Cambridge tech hub’s continuing appeal to institutional real estate investors.

At over $2,000 per square foot, the price paid by a joint venture of MetLife Investment Management and Norges Bank Investment Management sets a new record for an office investment sale in Greater Boston.

Oxford and J.P. Morgan Global Alternatives bought the 409,422-square-foot office building, which is 100 percent leased to Microsoft Corp. and Intersystems, in 2014 for $405 million.

During its ownership period, Oxford increased leasable space by over 10 percent by converting a parking level into office space and attracting InterSystems as a new tenant, and increasing net operating income by more than 55 percent from the time of its acquisition, Oxford said in an announcement.

“We took a creative approach to developing additional office space at the asset through the conversion of excess parking in the boutique tower, as well as securing long-term renewals by providing first-class service to the building’s customers,” Oxford Executive Vice President Chad Remis said in a statement.

Oxford will use the proceeds to increase its position in Greater Boston, where the company has a positive long-term outlook, the company said.

Eastdil Secured represented Oxford and J.P. Morgan in the disposition of One Memorial Drive.