Shorenstein Properties LLC of San Francisco has acquired the 717,128-square-foot Center Plaza property on Cambridge Street in Boston for $307 million from the Blackstone Group of New York.
The three nine-story buildings were developed in the 1960s and early 1970s and contain 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.
The acquisition is part of Shorenstein’s 10th retail estate fund, which raised $1.2 billion in 2010.
CEO Douglas Shorenstein said in a statement the property contains open floor environments designed to appeal to a wide range of tenants.
