TIAA-CREF PURCHASES A 600,000 SF OFFICE BUILDING IN BOSTON

BOSTON — Teachers Insurance and Annuity Association (TIAA-CREF) has purchased 33 Arch Street, a 33-story, 600,000-square-foot office tower in Boston. The Class A tower is currently 90 percent leased to tenants such as Digitas, The Securities and Exchange Commission and DLA Piper Rudnick. The property is LEED Gold certified and features a 821-space parking garage. AREA Properties Value Enhancement Fund IV and partner Ivanhoe Cambridge were the sellers of 33 Arch Street. Eastdil Secured represented the buyer in the transaction.