Spear Street Capital of New York has sold 226 Causeway St. in Boston to Dallas-based Invesco for $91.7 million.

Built in 1906, the 193,000-square-foot former Stop & Shop Supermarket Co. bakery was renovated into brick-and-beam office space and condos in 2002 by Boston-based Intercontinental Real Estate Corp.

The largest office tenant is TripAdvisor, which leased 72,000 square feet in the building in September 2013. The building also contains the front offices of the Boston Celtics, 15,813 square feet of retail space and six stories of residential units in the Strada 234 condo complex.

The property sits in a neighborhood awash in development activity including the adjacent 187,000-square-foot headquarters of Converse Inc. that opened in April in a relocation from North Andover. Related Beal Cos. of Boston, the developer of the Converse project, is breaking ground this spring on 131 Beverly St., a 175-unit luxury condo complex at Lovejoy Wharf overlooking a new extension of the Boston Harborwalk.

Last week, Related Beal Cos. filed plans with the Boston Redevelopment Authority to build a 14-story, 239-unit apartment building and 220-room hotel on a vacant parcel and parking lot at Causeway and Beverly streets. The project would be 100-percent dedicated to workforce and affordable housing units.

Invesco Buys 226 Causeway St. For $91.7M

by Banker & Tradesman time to read: 1 min
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