BOSTON-The Hub’s answer to the Twix candy bar–75-101 Federal St.–-is about to go on the market for sale, as Trammell Crow has been retained to broker the sale of the conjoined Financial District office towers. According to industry sources, the asking price of the two buildings will be $220 million.

“It’s a wonderful property,” says one Boston investment specialist who predicts the tower will generate considerable interest from a range of potential suitors. Along with an attached parking garage, the source notes that 75-101 Federal St. benefits from a strong location and a large block of retail space that features a bank, convenience store and several restaurants. The bustling Downtown Crossing shopping district is also close by, as is access to virtually all of the city’s subway lines.

Due to its unique history, 75-101 Federal St. has a complicated ownership arrangement, with a Dutch pension fund controlling 75 Federal St. and Equity Office Properties running the larger, and newer, 101 Federal St. The Dutch group acquired the building with Beacon Properties Corp. in the mid-1990s from the H.N. Gorin Co., which had developed both structures, albeit nearly 70 years apart. Equity took over in 1998 when it purchased Beacon, at the time a public REIT.

Calls to Equity were not returned, while Trammell Crow broker Robert E. Griffin Jr. declined comment.

One lingering question is whether there is a clause that requires Equity to sell its portion at the behest of the Dutch group. The overseas partner had recently tried to find a buyer for its piece, but got only a lukewarm response, and the investment broker following the deal surmised there might be a requirement that Equity must now offer up its stake as well.

The late Harry N. Gorin, one of Boston’s more successful commercial property owners of his time, developed the art deco 75 Federal St. Built in 1920, the gold-colored, 21-story structure stood alone until Gorin’s daughter, Rosalind, tried her hand at development in the 1980s by grafting the 31-story 101 Federal St. onto 75 Federal St’s west wall. Both properties share a common lobby area and elevator banks.

Reflecting Boston’s position as one of the top three office markets in the country, 75-101 Federal St. is just the latest Downtown tower to change hands in recent years. In 2000 alone, new owners have swooped in to buy such Financial District buildings as 99 Summer St., purchased for $66 million by Paradigm Properties and the Carlyle Group, 99 High St., bought by Boston Capital for $168.5 million, and 265 Franklin St., which Boston Properties and a New York pension fund acquired last month for $97 million.

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

Once you are an ALM digital member, you’ll receive:

  • 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

*May exclude premium content
Already have an account?


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

Dig Deeper


Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join now!

  • Free unlimited access to's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including and

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.