QUINCY, MA-Synergy is purchasing 200 Newport Ave. for $25 million. An affiliate from Clarion Partners is selling the 145,752-square-foot property, being represented in the transaction by Cushman & Wakefield. C&W also procured the buyer.
This property is also known as the Josiah Quincy Building as is net-leased by State Street, filling all eight stories on the 22,000-square-foot floor plates. The details of the long-term lease were not disclosed by Cushman & Wakefield.
There is onsite parking at the institutional grade building and boasts a renovation as recently as 2006. C&W’s Capital Markets Group included Robert Griffin, Jr., Edward Maher, Jr. David J. Pergola and Brian Doherty; which worked on the deal.
Synergy also just sold the 101 Summer St. to Independencia for $11.5 million. Synergy purchased the property at $5.7 million a year ago. The 50, 673-square-foot Church Green Building boasts 96% occupancy.
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