| An affiliate of Beacon Capital Partners LLC has signed a $59 million long-term ground lease for 177 Huntington Avenue at Christian Science Plaza in Boston.
The property "was particularly attractive to investors due to its location and value-add components," Coleman Benedict, managing director of Holliday Fenoglio Fowler LP, which represented the First Church of Christ, Scientists, in the deal. "Beacon Capital provided the most compelling terms for our client and will be a great steward of the asset going forward."
The Huntington Avenue building is slightly less than 200,000 square feet and was built in 1972. It was designed by I.M. Pei & Partners and Araldo A. Cossutta Associated Architects.
The church occupied the building until 2008 when it moved its headquarters into the renovated Christian Science Publishing House building, which is also on the plaza.
