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A Fort Point office building is passing from institutional to local ownership following a $26.3 million transaction.
The 122,100 square-foot 320 Summer St. was formerly part of software firm LogMeIn’s headquarters. The buyer, HC 320 Summer Street LLC, is managed by Fan Du of Newton.
The seller was Lincoln Seaport Street Venture, an affiliate of ASB Real Estate Investments, which acquired the property in 2007 for $17.8 million along with 322-330 Summer St.
The property is currently assessed by the city of Boston at $47.7 million. The latest transaction values the property at $215 per square foot.
LogMeIn offered the 320 Summer St. space for sublease during the pandemic. A recent property listing shows up to 110,679 available for lease.
Prices for office buildings in Fort Point are resetting at steep discounts, including the recent acquisition of three buildings by The Davis Companies for $56 million.
Additionally, CBRE Is listing the Channel Building, a 110,653 square-foot office building at 250 Summer St., for sale. The building is currently 64 percent leased and anchored by law firm Morrison Mahoney LLP.
