Boston Properties' new development at 325 Main is replacing an existing four-story commercial office and retail building at the site, formerly known as 3 Cambridge Center. The new building comprises approximately 375,000 gross square feet of new office space and 42,000 gross square feet of retail space at the lower levels.
Since the $61-million purchase, the new ownership has engaged in a more than $10-million capital improvement program aimed at creating a modern and flexible industrial property.
The Los Angeles-based commercial and industrial investment firm sold the property, which is fully leased to True Value, to a joint venture of Brennan Investment Group, LLC of Chicago and Greenwich, CT-based Arch Street Capital Advisors, LLC.
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