Tishman Speyer Lands Record Price for Pier 4 Office Building
New York City-based Tishman Speyer reports the $1,208-per-square-foot sale price for the Seaport District office tower at 200 Pier 4 Blvd. calculates out to the highest ever achieved for a Boston office property.
BOSTON—CommonWealth Partners of Los Angeles has acquired the newly built Pier 4 office tower here from Tishman Speyer for $450 million.
New York City-based Tishman Speyer reports the $1,208-per-square-foot sale price for the Seaport District office tower at 200 Pier 4 Blvd. calculates out to the highest ever achieved for a Boston office property.
The 13-story, 372,372-square-foot office building was completed this past May and has achieved LEED Gold certification. The property is anchored by the global headquarters of Boston Consulting Group and also serves as the global headquarters of Cengage Learning and Man Numeric.
The building located near Northern Avenue also features retail space including the soon to open Tatte, as well as a roof terrace with living walls, a state-of-the art fitness center, bicycle storage and three levels of parking.
“From the beginning, the Pier 4 site presented Tishman Speyer with a unique opportunity to create Boston’s finest modern mixed-use development,” says Tishman Speyer managing director Jessica Hughes, who heads the firm’s Boston regional office. “We were able to assemble the finest design and construction team to create a trophy office building worthy of the world-class companies who have chosen to locate their headquarters there.”
She adds, “We are pleased to contribute to the built environment and return public access to the waterfront at Pier 4 upon the completion of the Pier 4 Residences and park in 2019.”
Tishman Speyer is currently also developing the final phases of the Pier 4 mixed-use project that will include a nine-story 106-unit boutique condominium project, a one-acre public park, and new section of the Harbor Walk and sea steps.
Tishman Speyer’s holdings in Boston include 125 High St., One Federal St. and One Channel Center. Since its founding in 1978, the firm has acquired, developed and operated a portfolio of more than 165 million square feet with a total value of approximately $83 billion spread over 401 assets.