Downtown Crossing office space

Credit: Banker and Tradesman

Office trades in the Class A and B segments continue northward with the latest on West Street in Downtown Crossing for $16M.

From Banker&Tradesman:

There’s “another category where they [real estate investors] see potential for price appreciation: class B office buildings…The latest example: 33-41 West St. in Downtown Crossing, a fully-leased leased office building recently acquired by a New York developer for $16 million.

At $472 per foot, it’s one of the highest prices paid for a property in the category, said Robert Tito, a principal with NAI Hunneman in Boston…Built in 1899, the 38,000-square-foot structure was last acquired in 2008 by SMC Management of Watertown for $7.2 million.”