Invesco Real Estate Advisors has purchased 179 Lincoln St. in Boston’s Leather District for $75 million.
That price is almost triple the $25.6 million the seller, Millennium Partners, paid for the property when Millennium bought it from Teradyne Inc. in 2006, according to information provided by the Warren Group, Banker & Tradesman’s publisher.
The 220,311-square-foot LEED Silver certified asset was assessed at $20.3 million last year, and the total value including the land is $27.6 million, according to the Warren Group.
The Class A office asset occupies an entire city block along the Rose Kennedy Greenway and is more than 90 percent occupied, according to CB Richard Ellis, which represented Millennium in the recent sale. The building, first constructed in 1899, underwent an extensive renovation in 2008 and was honored by the Boston Preservation Alliance with its Preservation Achievement award.
"Invesco Real Estate Advisors has acquired an institutional-quality asset that will continue to take advantage of its unique appeal to a broad array of users," said CBRE’s Chris Angelone.
Those users include tenants like NaviNet, a healthcare communications network provider, and the TriZetto Group, which develops healthcare management programs.





