"That is true," one broker concurs of multiple reports thatBroadway has opted to peddle the tower just one year afteracquiring 200 State St. in a $5-billion portfolio buy from BeaconCapital Partners. That building and 23 other properties weresecured by the Broadway Real Estate Fund III in the blockbustertransaction. The portfolio features other high-end office buildingsin Massachusetts, among them 116 Huntington Ave. in Boston and theBay Colony Corporate Center in Waltham, one of the suburb's leadingaddresses. Other Broadway funds have control of the iconic JohnHancock Tower in Boston's Back Bay and the Ten/10 Post OfficeSquare office buildings in the Financial District.

Officials at Cushman & Wakefield's Boston division declinedcomment on being tapped for the 200 State St. assignment, whileBroadway management did not respond to inquiries by press deadline.Nonetheless, market watchers insist the asset is being packaged forsale, although sources were unable to estimate what price Broadwaywill be looking for from the exercise. The Boston assessor's officeputs a value of $87,090,500 on the 23-year-old tower, which is nowstructured as an office condominium after Beacon sold off a retailcomponent soon after purchasing 200 State St. in 2005 for $141million. The retail piece was flipped to an Irish investment groupfor $51 million, equating to a per sf price of $300 paid by Beaconfor the office product. As part of its purchase, Broadway assumedan $82-million mortgage from Lehman Brothers.

The pending arrival of 200 State St. to the sales arena comesamidst a far different climate than that in which Broadwaycompleted the portfolio buy last spring. Eager capital sourcesfueled by CMBS money have all but disappeared in the wake of theobdurate credit crunch, leading many owners to keep properties onthe sidelines until more favorable conditions reappear. Presently,there are only a handful of top Boston buildings available forsale, including Verizon's headquarters at 185 Franklin St. and OneFederal St., a 38-story, 1.1 million-sf tower C&W is marketingfor Tishman Speyer.