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Central Square Property Sells For $75M

Sep 8, 2017 | Reprints | Unlock Link

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Lincoln Property Co. and Stars Investments of Chile acquired an office and retail property including the Cambridge location for co-working space WeWork for $75 million.

The 122,104-square-foot building at 625 Massachusetts Ave. includes retail spaces occupied by Boston Sports Club, Walgreens and TD Bank.

Located next to the MBTA’s Central Square station, the property previously traded for $40 million in 2012.

CBRE/New England’s Dave Pergola and Brian Doherty represented seller L&B Realty Advisors of Dallas in the latest transaction Aug. 29.

Asking rents in office buildings located within a half-mile radius of Central Square station are just under $49 per square foot, according to research released this week by Colliers International Boston.

B&T Daily