John Hynes, managing partner and principal of Gale Co., tells GlobeSt.com that his firm is "thinking very seriously about putting the building up for sale, given the level of interest that has been coming our way."

Hynes says that over the past year he has received at least half dozen inquiries weekly regarding the building. "It seems like it would be the natural course of events for us to step back, regroup and think about our goals," he adds. "There has probably never been a better time to be a seller in Downtown Boston. We would be foolish not to consider our options in this marketplace."

The tower, which is situated between Chinatown and South Station, is owned by the Gale Co. and Morgan Stanley. The State Teachers Retirement System of Ohio also has some equity in the building, as does Columbia Plaza Associates, which was originally designated to develop the building back in the 1980s.

The owners scored a huge coup when State Street Corp. signed on nearly three years ago to lease the entire building at a time when lease rates were still relatively high. The building has since been renamed State Street Financial Center. It is this tenancy, which runs for 20 years, that is the property's chief attraction.

But the deal has other charms as well. It's a brand new building, interest rates are low and, as Hynes points out, the stock market has not been great. "It's a perfect storm," says Hynes. But, as Hynes adds, the timing is crucial. "The older the lease gets the less value it has," he says.

Hynes says that his company has not yet considered a sale price. "We'll let the market tell us the price," says Hynes. In the city's most recent big deal, Beacon Capital Partners acquired John Hancock Financial Service's three-building portfolio for $910 million, or about $300 per sf, but it is likely that this building would sell for an even higher price.

Hynes acknowledges that "a building like this with the numbers it would command" has a limited number of potential buyers. Most of the interest so far is from institutional investors like pension funds and trusts. Morgan Stanley, the investment bank, would serve as the building's broker.