KBS Strategic Opportunity REIT sells 50 Congress Street for $79 million – Benedict and Sayles of HFF broker sale of 179,872 s/f office building
June 2, 2017 | New England Real Estate Journal
Boston, MA KBS Strategic Opportunity REIT, a non-traded real estate investment trust based in Newport Beach, CA, completed the sale of 50 Congress St. for $79 million.
Located in the city’s Financial District, 50 Congress St. is a 10-story office building with a retail component on the ground floor. The property has 179,872 s/f of space that includes amenities, such as an on-site hair salon, bank, café and access to U.S. Postal Services. With views on three sides, the location allows for natural light. The building is located near shopping and dining options and is near several subway stations, providing tenants with access in and out of the city.
Constructed in phases between 1910 and 1915, the over 100 year-old property maintains its original exterior giving it its aesthetic appeal, though now includes a modernized infrastructure, and is structurally retrofitted with updated amenities.
The time (at Blue Vault's 2nd Annual Broker Dealer Educational Summit) proved extremely informative.