Boston & New England CRE News In Your Inbox.
Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.
Blackstone Pays $156M for Creative Offices Near South Station
Blackstone Real Estate has acquired 179 Lincoln St., a low-rise office building spanning a full block in downtown Boston, from Invesco Real Estate for $155.65 million, the Boston Business Journal reported.
The asset management giant paid more than double the $75 million that Invesco forked over to acquire the 221,474-square-foot property in 2012.
179 Lincoln dates to 1899 and is located near South Station. It’s 88% leased to tenants including Smartsheet, Outfront Media Inc., XPO Logistics Inc., Mad*Pow and PowerAdvocate.
NKF’s Edward Maher, Matthew Pullen, James Tribble, Samantha Hallowell, Robert Griffin, Gil Dailey and Tim Bianchi brokered the deal.
“179 Lincoln represents a high-performing boutique office asset,” said Pullen. “With distinctive architecture, modern upgrades, open office layouts, LEED Silver certification and on-site amenities including a café, fitness center, parking garage and bicycle storage, it is well suited for creative office tenants.”
Blackstone’s EQ Office will manage the property.
For comments, questions or concerns, please contact Paul Bubny
- ◦Sale/Acquisition
