Synergy Acquires 250 Summer Street in Boston for $25M

BOSTON, MA – January 26, 2012 – Synergy Investment & Development announced the successful acquisition of the Channel Building, a premium mid-rise property located at 250-260 Summer street in Boston’s Innovation District.

250 Summer Street is an eight-story commercial property comprising 104,000 square feet of premium office space. Morrison Mahoney LLP, one of Boston’s most prominent law firms, is the building’s primary tenant. Also among the property’s lease-holders are the Argo Group and the SLAM Collaborative. Current leasing availability is 17,000 square feet, much of it enjoying waterfront and city views.

The purchase of 250 Summer Street represents Synergy’s ongoing commitment to the Innovation District and expands the firm’s footprint to approximately 400,000 SF.  Welcoming his firm’s latest addition, Synergy President Dave Greaney commented that, “We are pleased with our recent acquisition at the intersection of the Financial and Innovation Districts. We welcome our new tenants to the Synergy portfolio and we thank the seller and HFF for their cooperation.”

Situated at the corner of the Fort Point Channel and Summer Street, the Channel Building offers unparalleled ease of access to public transportation, lying as it does less than a third of a mile from three MBTA lines and the Commuter Rail and Amtrak services at South Station, Boston’s busiest transportation hub. The property enjoys an enviable waterfront location with unobstructed views of Boston’s skyline and a wealth of nearby dining, retail, and entertainment options. Constructed at the turn of the Twentieth Century and originally built as wool warehouse, the property underwent extensive renovation to become a first quality modern office space.