News: Front Section
Posted: December 17, 2008
Cushman & Wakefields's Griffin, Maher and Loeber broker $31.75 million sale
On behalf of Central Plaza/Wells Avenue, LLC, Cushman & Wakefield of Mass. Inc. brokered the $31.75 million sale of Central Plaza, a 166,458 s/f office/retail building in Central Square. Cushman & Wakefield Capital Markets Group, comprised of Robert Griffin, Edward Maher, and Marci Griffith Loeber, exclusively represented the seller and procured the buyer - Intercontinental Real Estate Corp., a Boston-based real estate investment advisory firm.
Central Plaza is located at 675 Mass. Ave. in the center of Central Sq., home to national retailers, specialty shops, and restaurants. The area is also close to Harvard University and MIT.
Central Plaza represents the most recent of C&W's major transactions, closely following the $33.5 million sale of 100 Franklin St.
"This transaction exemplifies our commitment to sell top quality office and retail space in such a challenging and volatile period in the capital markets," said Griffin, president of C&W New England. "We believe that through this acquisition, Intercontinental has obtained a truly distinct and valuable asset in the greater Boston market."
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