The Sears’ Crescent Building in Boston’s Government Center neighborhood has been acquired by Chevron Partners for $23.8 million. Comprising 50,300 sqf the brick-and-beam asset is currently 100 percent leased to 14 tenants. Changing hands for just over $473 per sqf the property is located at 38-68 Cornhill, adjacent to City Hall and City Hall Plaza. Newmark Grubb Knight Frank oversaw the transaction of the boutique office/retail asset on behalf of Copley Investments. “We are thrilled to acquire this iconic asset,” said Marcel Safar, managing partner of Chevron Partners. “The building fits perfectly into our longer-term quality asset strategy with significant value-add potential.”
