A New Abbey Lane

The 6-story Lafayette Corporate Center office building at 500 Washington St. in Boston sold to The Abbey Group for $133.5 million, about $219 per square foot. Patriot Games LLC, the seller, had largely redeveloped the property during its ownership. Lafayette Place was originally built as a 500-room hotel with a 300,000-square-foot retail mall. Patriot Games, a partnership between Angelo, Gordon & Co.; Amerimar Enterprises; and Centrum Properties; stripped the center down to the steel, added three stories, and put on a new facade. Transformed into a 610,000-square-foot office building with street-level retail, Lafayette Corporate Center quickly leased to well known Boston financial institutions. Robert E. Griffin, Jr., Edward C. Maher, Jr., and Marci B. Griffith of Cushman & Wakefield of MA Inc. represented the seller and procured The Abbey Group, a Boston-based real estate owner/investor.