Photo courtesy of Synergy

Boston-based developer Synergy made another bet on the future of the office market with acquisition of a 406,928-square-foot office tower in Downtown Crossing.

The $78 million transaction at 101 Arch St. represents a 36-percent discount on the property’s previous sale in 2005 for $121.7 million to Clarion Partners.

On a dollar basis, the deal represents the largest office sale in Boston since before the pandemic.

What else is on tap today?

Who Gave Back?
North Shore Bank, based in Peabody, gave $20,000 to the Essex Community Foundation to support education, healthcare, economic development and social services initiatives. See who else gave back.

What can I look forward to?
Here are just a few of the things to look forward to in Sunday’s newsletter. Not a B&T subscriber? Change that here.

  • Are inventory problems in Massachusetts’ housing markets finally starting to ease? Or is it just a weather-driven fluke?
  • The real shocker isn’t that Boston’s mayor wants to protect residential taxpayers. It’s the unprecedented size of her solution.
  • A change of ownership at a North Shore architecture firm is opening new doors for its growth.

The B&T Daily: March 29, 2024

by Cassidy Norton time to read: 1 min