Landmark Malden Center office building sold for $2.55 million
One Salem Street, a highly-visible, 15,825-square-foot office building located in the heart of Downtown Malden, has been sold for $2.55 million to Alpha Business Center, LLC of Cambridge, MA. The sale amounts to approximately $161 per square foot. Cambridge Trust Company provided $1.785 million of financing towards Alpha's acquisition. Seller GAMA Realty Holdings, LLC acquired the building in October 2004 for $1.5 million, approximately $95 per square foot. Broker Burgess Properties represented GAMA in the sale to Alpha; broker Phoenix Real Estate Partners, LLC represented Alpha. One Salem Street is located steps from the MBTA Orange Line and Commuter Rail, as well as the $120 million Jefferson at Malden Center mixed-use development.
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