Office building at 745 Atlantic avenue in downtown Boston

Credit: BBJ

Oxford Properties continues its buying spree by plunking down $114.5 million for 745 Atlantic Avenue or $657 per square foot. 745 Atlantic Avenue is home to WeWork and Dain Torphy as well as a number of companies.  WeWork will be building out a Café on the 1st floor as part of their future expansion.

From the BBJ:

“It really fits our profile of what we like to buy for the long-term: Class A assets in downtown cores near transit-oriented locations,” said Chad Remis, the head of Oxford Properties’ Boston office.

Its $114.5 million acquisition of 745 Atlantic, which closed May 29, is more than double the $54.65 million sale price 745 Atlantic fetched in 2003. The property sold again in 2008 as part of a $1.7 billion office property acquisition invovlingBeacon Capital Partners and Charter Hall Office REIT of Sydney, Australia.

You can read the full article on the Boston Business Journal website.