College House
Update
12/23/20
Harvard Square Building Acquired in $45M Sale
Gazit Horizons, Inc. has secured 1430 Massachusetts Avenue, an office building in Harvard Square, in a deal with University Common Real Estate that was brokered by Cushman & Wakefield valued at $45,000,000.
The historic College House office building features 32,528 SF of retail and office space and was originally constructed as a dormitory for Harvard University.
“This year has brought a new set of challenges for commercial real estate but has also led to special investing opportunities like this asset,” said Jeff Mooallem, Gazit’s President and Chief Executive Officer. “1430 Mass Ave has all the ingredients we look for – unique character, renovation potential, and an irreplaceable location. Strategic improvements will make this property even more compelling to existing and future retailers and office tenants.”
The current tenants, a CVS and Santander Bank, are vacating in 2021 allowing Gazit to retrofit the prime retail space facing Harvard Yard.
