Cushman & Wakefield of Massachusetts' Financial Services Group of Robert E. Griffin, Jr., Edward C. Maher, Jr., Marci Griffith Loeber and Jeffrey H. Gates exclusively represented the seller and procured the buyer. The joint venture has retained C&W's leasing team of Kevin J. Hanna , JR McDonald and Meghan Clark to oversee the leasing campaign for the center.

"This transaction is a perfect example of the pent-up demand for opportunistic investment plays in some of the nation's most densely built-out areas," explains Loeber, who is an executive director at Cushman. "It possesses the real estate fundamentals that investors require before making a commitment of this size: in-fill location, inherent building quality and positive market dynamics."

Earlier this year, CSFB picked up the site, which is on a 57-acre parcel, after its former owner, Congress Group Ventures, gave up on the property. The building is nearly 90% vacant and has been for more than two years. It was originally developed for Raytheon in stages between 1955 and 1972. In 1996 Polaroid moved in, but they moved out in 2001 after declaring bankruptcy.