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Investors Eye 648,000-SF Charles River Plaza

BOSTON-Investors are already scrambling to bid on Charles River Plaza, the 647,783-sf retail and office complex recently placed on the market by Marcus Davis Partners.

By Beverly Ford | Updated on March 01, 2007

BOSTON-Charles River Plaza has just hit the market but already investors are pouncing at the chance to acquire the 647,783-sf trophy asset on Cambridge Street. “A significant number of confidentiality agreements have already been submitted,” Jonathan Davis, with Marcus Davis Partners, the building’s owner, tells GlobeSt.com. “A property like this appeals to a wide range of investors.”

The fully-leased retail and office building, acquired by Marcus Davis several years ago for $76.2 million, underwent a $270 million renovation and expansion four years ago that added 420,000 sf.

Davis says the building’s owners intended it to be a long-term hold but with the city’s hot investment market, the firm opted to put it on the market. No price has been set on the property, which is being marketed by Cushman & Wakefield.

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