Unconfirmed reports say that the building owners, theChicago-based Barket Brothers, could get as much as $140 millionfor the 615,000-sf office and retail building. That issignificantly more than the $17 million that the Center sold for ata foreclosure auction in 1997. State Street Corp. leases 400,000 sfat the Center and MFS Investment Management leases the remaining135,000 sf.

Reportedly, Bullfinch Cos. and Abbey Group, both locally based,are the main contenders to buy the Center. A Ritz-Carlton Hotel isbeing developed nearby as well as luxury condominiums. EmersonCollege is also moving its campus into the neighborhood anddevelopment is anticipated on an adjacent city-owned parcel.

Want to continue reading?
Become a Free ALM Digital Reader.

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.