"It was a feeding frenzy," Ed Maher, with Cushman & Wakefield's Boston office, tells GlobeSt.com, of the strong interest generated from buyers. He says the building's "nice mix of stability and improvement profile" along with the property's location just a half-block from the Boston Public Garden were key drawing points for the roughly 20 bidders who placed offers. Shorenstein's bid, along with the company's "gold standard" reputation as a deal-closer solidified the transaction, he says.

The acquisition brought Shorenstein back into the Boston market two years after it exited following the sale of the Bay Colony Corporate Center in Waltham.

Matthew Knisely, a vice president with Shorenstein, tells GlobeSt.com that Boston's strong fundamentals, including a shortage of Back Bay office space and rising rents, prompted the firm to get back into the mix.