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Blackstone Buys Historic Office Property for $156M

179 Lincoln St.

Private equity investor Blackstone has acquired a historic office property overlooking the Rose Fitzgerald Kennedy Greenway for $155.65 million.

The seller, Invesco Real Estate, paid $75 million for the 179 Lincoln St. property in 2012. The latest transaction works out to a purchase price of nearly $737 per square foot.

Built in 1899, the 210,440-square-foot Beaux Arts-style building was designed by architects Peabody & Stearns and was once occupied by United Shoe Machinery Co. and U.S. Thread Co.

Under Invesco ownership, the building recently attracted new tenants including Smartsheet, XPO Logistics, Outfront Media and AMCS Group.

B&T Daily