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Harvard Square Office Building Sold For $46M

Oct 3, 2016 | Reprints | Unlock Link

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Dallas-based L&B Realty Advisors has acquired 1050 Massachusetts Ave., a 62,474-square-foot office and retail building, for $46 million from Putnam Circle Assoc.

The sales price is $736 per square foot. Developed in 1974 by the seller, 1050 Massachusetts Ave. was designed by Cambridge Seven Assoc., which is headquartered in the building. Other long-time tenants include the National Bureau of Economic Research and Northstar Project & Real Estate Services. Pyara Spa & Salon is the ground-floor retail tenant.

The property includes 30 on-site parking spaces and a 24-space satellite lot on Ellery Street.

CBRE/New England’s Dave Pergola, Brian Doherty and Chuck Kavoogian represented the seller and procured the buyer.

B&T Daily