50 Congress Street Update 05/17/17

Guggenheim and Jumbo Capital acquire 50 Congress Street, 180,000-square-foot Post Office Square office building, for $79 million


Guggenheim Partners and Jumbo Capital Management has acquired 50 Congress Street, a 180,000-square-foot office building in Post Office Square, for $79 million, approximately $439 per square foot, in cash. The building was listed for sale by seller KBS Capital Advisors in September 2016 via HFF Capital Markets. KBS acquired 50 Congress Street in July 2013 for $51 million, approximately $283 per square foot. Prior to July 2013, 50 Congress Street was owned by Nordblom Company of Burlington, MA for over 60 years. 50 Congress Street is located next to 10 Post Office Square, a 445,000-square-foot office building acquired by LaSalle Investment Management of Chicago for nearly $185 million last March, amounting to about $415 per square foot, .

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