Deals put Cushman on $2B sales pace - Boston Business Journal:

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"October is a big month for said MarciGriffith Loeber, executive director at Cushman Wakefield. The firm landed two of the year's biggesg deals, with One Beaco St. set to sell for a reportedx $350 million and a pair of Fidelity Investments 245Summer St. and 7 Water St., selling for $305 million. Asidwe from the two larger deals, Loeber said the firm also recentlhy closed two other largedeals -- Museum Towers, a high-rise apartment complex in which sold for $145.7 million, and Downtown Crossing'se 350 Washington St., which sold for $109.9 million. Another which closed on Wednesday, is 300 Baker Ave.
in which Cushman sold for $44 million on behalf of to SpeardStreet Capital. So far, Cushmaj has closed on 34 dealzs worth morethan $1 billion. Last year at this Loeber said, the firm had closed on aroune 25 dealsworth $400 million to $500 The volume of transactions is driving the numbers, with everything from officde buildings to retail centers sellingy at a furious pace at firms acrosws the city. Office sales alonw total $1.9 billion in greater Boston, with 190 deales closing so farthis year, according to "Th bread and butter, had been office, but we're seeinf a lot in all sectors. We're seeintg it across the board," said Loeber.
Brokerage firms across the city have been busilg marketing and selling properties all Unlikeprevious years, which slows over the the market has continued to be hot, with investors seekinv to deploy capital for fully leased, high-quality At CB Richard Ellis/Whittier the market has been brisk, with plenty of competitioj for attractive deals, said Philip executive vice president and partner at the firm. Giuntas and partner Elizabeth Thomas, a senior vice president, last Thursdag closed on the sale of 35Kneelanfd St. for $28 million. The building was sold by to . "Itf was very competitively bid," said Giunta. "Therde is capital in the market todat looking forstable deals.
" The firm is also sellingg Clock Tower Place in Maynard, which reportedly could fetch $100 million, and the three-building, 147,000-square-foot Norwood Park Southg for which is 97 percent leasec until 2006. CB Richard Ellis also closedx on Lincoln Plaza thispast year, with agreeing to purchasse the two-building Leather District officwe property from its lender/owner, , for $27.5 million. The more stabld the asset, the faster the deal said Michael Smith, principal at . Buyerws are cautious when a building has given the ample amount of spacee and weak fundamentals in theofficee market. "The sellers are being more demanding of the buyerato stretch," said Smith.
"It's a lot of work to get the buyerx to take onthe perspective." But buyers aren't alwaye willing to stretch for older buildings or ones with higherd vacancy. Spaulding & Slye is selling 745 Boylston St. for Prudentialk Investments and has the building under agreement to a localinvestment group. Though Smith would not disclose the deal termszor price, the sale could close at a numbert lower than the original asking price of $36.6 million. So far this year, Smithn said the investment sales team atSpaulding & Slye has closed on $210 millionh in sales with another $150 million underd contract.
Last week, the firm had calls for offera onanother $300 million worth of product. He said the totao amount of deals depends on how many carryt over from yearto year. "We're hopinyg to have a record year," said Smith. "We'rer going to have a good year. We've got good overallk activity."