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Apple Acquires Its Boston Store for $88M
Apple Inc. has purchased the Boylston Street property that houses its Back Bay store for $88 million, reported the Boston Business Journal. Coming in at more than $3,500 per square foot, it’s reportedly one of the priciest retail real estate deals in Massachusetts in recent years.
The tech giant bought the three-story building from an affiliate of London’s Tribeca Holdings. Tribeca acquired the property at 815 Boylston St. in 2012 for $27.5 million.
The acquisition is unusual for the company, which typically leases its stores, the Business Journal reported. The price reflects the high value put on Back Bay retail real estate. Retail rents at nearby Newbury Street rose 10% last year amid a surge in popularity among tourists. A five-story, mixed-use building on Newbury sold for more than $2,300 per square foot in 2024. That property is home to one of Google’s first stores in the U.S.
- ◦Sale/Acquisition
