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Joint Venture Buys Boston Area Office Site for $62M

DRA Advisors, Maric Sell 156,000 SF in Norfolk County
February 20, 2009
National Development and Charles River Investors LLC partnered to acquire a 155,896-square-foot office building in Brookline, MA, from DRA Advisors LLC and Maric Inc. for $62 million, or approximately $398 per square foot.

The six-story structure at 10 Brookline Place W in Norfolk County was originally constructed in 1976 and then renovated in 1989. The property features onsite day care and food service in addition to an onsite 200-space parking garage. The property was 100 percent leased at the time of sale by two tenants, The Dana-Farber Cancer Institute and The New England Institute of Art.

Eastdil Secured represented the sellers. The buyers were self-represented.

Please refer to CoStar COMPS #1642823 for more information.

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