Lincoln Property Co. and ASB Real Estate Investments of Bethesda, Maryland have acquired the newly-opened headquarters of remote computing company LogMeIn for $74.25 million from DivcoWest of San Francisco and Boston-based Synergy Investments.

Synergy and DivcoWest paid $11 million in May 2013 for the former wool warehouse at 327-337 Summer St. in Boston’s Fort Point neighborhood. An eight-alarm fire tore through the structure in December 2013, delaying conversion of the six-story industrial space into offices to take advantage of the neighborhood’s fast-growing tech scene.

LogMeIn, which moved its U.S. headquarters from Woburn to 320 Summer St. in 2013, signed a 12-year lease for all 117,000 square feet in 2014, shortly after the Boston city council approved a $2.5 million, 13-year tax increment financing agreement for the property. In exchange, LogMeIn agreed to hire an additional 450 employees. The company now occupies both buildings.

Boston-based architects SGA designed LogMeIn’s collaborative workspaces and common area amenities including lounge-style breakout rooms, a basement level coffee bar, café and basketball court. Employees moved into the building in late January.

New LogMeIn HQ Sold For $74.25M

by Steve Adams time to read: 1 min
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