The historic five-story, 114,257-square-foot office and retail building at One Winthrop Square has been sold to an affiliate of German firm GLL Partners, the third financial district building sold to the firm.
The price was undisclosed. GLL also owns 200 State St. and 70 Franklin St.
One Winthrop Square is "an architecturally distinctive ‘jewel box’ property" situated at the intersection of Otis and Devonshire streets, according to a statement from Cushman & Wakefield, the deal’s brokers. The property is 95 percent leased.
Initially constructed in 1873, One Winthrop Square initially served as the home of several major dry goods merchants in its early years and, later, as the headquarters of the Record American newspaper (predecessor to today’s Boston Herald). Renovated in stages, starting in 1990, and most recently in 2008, the building’s original 19th century detailing has been combined with modern interior finishes, skylights and building systems, according to a statement.
Cushman & Wakefield’s Capital Markets Group of Robert E. Griffin, Jr., Edward C. Maher, Jr. and Marci Griffith Loeber in concert with downtown specialist David Martel, exclusively represented the seller, RREEF, and procured the buyer in the transaction.
