Grubb & Ellis Boston orchestrates $116 million sale

NEMC Real Estate Co. has completed the sale of the Biewend and Tupper buildings in Boston, Mass., for $116 million to Santa Ana, Calif.-based Triple Net Properties LLC.
Philip G. Giunta of Grubb & Ellis' Boston office represented the seller while Triple Net was self represented. The Tufts-New England Medical Center executed a 10-year triple net lease for 100 percent of both of the buildings, which sold for $460 per square foot. The 14-story Biewend building is a medical office building located at 260 Tremont St. and contains 154,500 square feet. It was built in 1924 and renovated in 1992.