"Like everything in Boston today, there was a significant amount of interest from a wide range of investors," says James McCaffrey, with Eastdil Secured's Boston office, adding that at least six "serious buyers" were involved in the bidding. The sale of the property marked a high price point for per square pricing of class B office space in Boston, McCaffrey says.

Interest in the property was strong because of the building's location at Congress and High streets just one block from Post Office Square and near the Rose Fitzgerald Kennedy Greenway, McCaffrey says. Recent renovation work by the property's previous owners, which included renovations to the facade, windows and lobby, along with the building's solid occupancy rate, made the building even more appealing.

"It's one of the best locations in the city," McCaffrey says. "The Archon and Yale folks did a tremendous amount of upgrades and really hit the high point in terms of improving the asset."