BXP Outlines $1.9B Disposition Strategy
BXP executives outlined plans to sell 23 properties and concentrate investments in “premier workplace assets” in coastal urban markets.
Causeway Street Offices Sold for 80 Percent Discount
The decline in Boston office building valuations is creating opportunities for local developers to acquire class A buildings previously owned by national and institutional investors.
Synergy Reportedly Purchasing Another Downtown Tower
A downtown Boston office tower is reportedly set to be acquired by Boston-based developer Synergy for a steep discount from the previous transaction that took place just before the COVID-19 outbreak.
Boston Offices Trade for 55 Percent Discount
A partnership of Tritower Financial Group and Live Oak Real Estate Investments paid $28 million for One Bowdoin Place.
Needham Offices Sold to Wellesley Buyer for $19M
A Needham office building that previously traded for over $26 million in 2012 was sold this week for $19 million to a local developer.
101 Station Landing Sold to Burlington Developer
An office building that’s part of the 16-acre Station Landing mixed-use development at Medford’s Wellington Circle was acquired by a Burlington-based developer that’s planning a repositioning project.
Another Big Office Landlord Tests Sales Climate
Blackstone’s office real estate arm is testing the investment sales climate in Boston with plans to sell a Back Bay multitenant building after an 11-year ownership period.
Brick-and-Beam Offices Trade for $48M in Fort Point
Local developers acquired a Fort Point office building that’s attracted tech offices and a popular barbecue restaurant in recent years for nearly $48 million.
Pension Funds Losing Big from Slump in Office Values
For years, downtown office buildings were a solid bet for the public employee pension funds. Recent sales in downtown Boston show that’s not the case, anymore.
Prominent Newton Corner Property Sold to City Realty
Allston-based City Realty Group acquired a prominent Newton Corner property best known for its ground-floor tenant Buff’s Pub from a Wellesley developer for $8 million.
Former Goulston & Storrs Offices Sold for $30M
A vacant Boston office building that was formerly occupied by law firm Goulston & Storrs was acquired for $30 million, a 40 percent discount from its last sale in 2014.
Vacant Malden Offices Trade for $7.8M
A vacant Malden office building that once housed state Department of Elementary and Secondary Education offices traded for $7.8 million after a marketing campaign emphasized its potential for alternative uses.
Financial District Offices Trade for $36M
A downtown Boston property anchored by Atrius Health medical offices was acquired by an alternative investment manager for $36.35 million, or 24 percent below its previous trade.
Boylston Street Property Trades for $39.1M
A Back Bay office-retail building anchored by an investor center for Fidelity Investments was acquired by a Spanish real estate investment firm for a 27-percent discount from its previous sale in 2013.
Synergy Investments Buys Boston Office Building for Mortgage Debt
A Boston office building that traded for nearly $156 million weeks before the COVID shutdown in 2020 was acquired by Boston-based Synergy Investments in exchange for the assumption of $76.5 million in mortgage debt.
BXP Switches to Offense in 2024
Boston Properties CEO Owen Thomas said the office REIT sees “significant opportunities” for acquisitions and development in 2024 as the office sector falls out of favor among institutional investors and values drop.
Amid CRE Slowdown, Opportunities in Play
2024 promises to be a year of reckoning for many Boston-area commercial property owners as rising vacancies and expiring mortgages threaten their once-lucrative business plans.
Back Bay Office Building Trades for $99.5M
A Back Bay property was acquired for $99 million in the neighborhood’s biggest-ticket office sale since 2020.
City Realty Buys Leather District Offices for Discount
In another example of the downward reset in Boston office building values, Allston-based City Realty acquired a Leather District property for $11 million, or just over $150 per square foot.
Auto Dealer Buys Braintree Office Complex for Big Discount
A Braintree office property that went to auction in July sold for $8.7 million to auto dealer Daniel J. Quirk.
