By combining parcels 14 and 15 with 50 Dalton St., would provide62,272-sf of development area and could enable an easier buildingprocess by providing land-based property, as opposed to dealingwith air rights on parcels 14 and 15, according to sources. TheRFP's are scheduled to be in by December 5th, 2008. It would beadvantageous for one or more of them to include the property at 50Dalton St.

|

The property currently houses numerous retail leases, includingBukowski's, Kings, Pacer Cats, Summer Shack, and a Sony theatre.Auditorium Garage runs the 500 parking spaces on the property.Parcel 13 stands across Boylston Street and Parcel 12 is a blocksouth on Massachusetts Avenue. The properties are accessible to theMassachusetts Turnpike, the Prudential Center and Hynes ConventionCenter. There is no disclosed asking price. The Back Bay issought-after property, boasting some of the highest rental rates inthe city with JLL's Q3 2008 numbers averaging office rates in theBack Bay at roughly $59 per sf and new construction rates predictedto be anywhere from $80 to $85 per sf, as compared to an average of$75 to $80 per sf elsewhere in Boston.

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
NOT FOR REPRINT

© 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.