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Boston & New England  + Massachusetts  + Office  | 

Skanska Sells Boston Tower for $455M

Skanska is divesting 121 Seaport office tower development in Boston, to SVF Acquisitions, LLC, a JV between American Realty Advisors and Norges Bank Real Estate Management for roughly $455 million. The deal for the 17-story, 400,000-square-foot newly-built building is expected to close in Q4 2018.

The LEED Platinum certified office property is accompanied by 275 below-grade parking spaces attached to a two-story, 50,000-square-foot retail condominium. The office tower is 100% leased to PTC and Alexion Pharmaceuticals, and features a distinctive elliptical-shape and sustainable design.

Construction of 121 Seaport began in the third quarter of 2015 and was completed in the 2Q 2018. 121 Seaport is one of Skanska’s three developments on Seaport Boulevard in Boston. Skanska also developed 101 Seaport, which the company sold in 2016, and Watermark Seaport, which the company sold in 2017.

For comments, questions or concerns, please contact Dennis Kaiser

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About Dennis Kaiser

Dennis Kaiser is Vice President of Public Relations and Communications for Connect Creative. Dennis is a communications leader with more than 40 years of experience including as a journalist and in corporate and agency marketing communications roles. He is responsible for Connect Creative’s agency client services and is involved in a range of initiatives ranging from public relations and content strategy, communications and message development, copywriting, media relations, social media and content marketing services. Prior to joining Connect Media in 2015, his most recent corporate communications roles involved leading a regional public relations effort across Southern California for CBRE, playing a key marketing role on JLL’s national retail team, and directing the global public relations effort at ValleyCrest (BrightView), the nation’s largest commercial landscape services company. He has worked on marketing communications assignments for such CRE companies as Blackstone/Equity Office, Carlyle, Caruso, Disney Resorts, GE Capital, Irvine Company, Hines, Howard Hughes Corp., Jeffries, Lennar, MGM, Marcus & Millichap, Prologis, Raleigh Studios, Simon, Starwood, Trammell Crow Company, Transamerica, UBS and Wynn Resorts. Dennis has also worked on communications and launch strategies for a number of consumer electronic, media and tech brands including SlingMedia, Channel Master, Deluxe Media Entertainment, BeIn Sports, EchoStar and Sprint. Dennis’s agency background included firms such as Off Madison Ave., Idea Hall and Macy + Associates. He has earned an outstanding reputation with organization leaders as a trusted advisor, strategic program implementer, consensus builder and exceptional collaborator. Dennis has developed and managed national communications programs for Fortune 500 companies to start-ups, both public and private. He’s successfully worked with journalists across the globe representing clients involved in major-breaking news stories, product launches, media tours, and company news announcements. Dennis has been involved in a host of charitable and community organizations including the American Cancer Society, Easter Seals, Boy Scouts, Chrysalis Foundation, Freedom For Life, HOLA, L.A.’s BEST, Reach Out and Read, Super Bowl Host Committee, and the Thunderbirds Charities.

  • ◦Sale/Acquisition