One Faneuil Hall Square, in the heart of Boston’s famed marketplace, is on the market and attracting attention from foreign investors – attention that could push its final selling price upwards of $40 million, or more than $900 per-square-foot.
The property, which has one of the most recognized Boston addresses, has garnered the interest of foreign buyers from Spain to China, according to Scott Jamieson, managing director for Jones Lang LaSalle (JLL).
The 46,500-square-foot property was last sold in 2005 to a New York investment group operated by developers Alex Adjmi and Robert Cayre for about $22.6 million. The group previously lost a bid for Downtown Crossing’s Filene’s building, which was sold to Vornado Realty Trust of New York.
Adjmi and Cayre successfully lured the EC Boston Language Center, an adult-education and language school, into a 21,700-square-foot space at the seven-story property earlier this year. That stabilized the property and brought it to full occupancy, Jamieson told Banker & Tradesman.
JLL is getting inquiries from some far-flung investors looking to make a safer bet than they can across the pond. They view Boston as a stable market, Jamieson offered.
"The more the economy is in disarray in Europe, the more those investors are seeking investment opportunities here," Jamieson said. "That increased demand and competition is driving pricing in the seller’s favor for a lot of properties."





