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BOSTON-The Lafayette Corporate Center, which was redeveloped by the Chicago-based Barket brothers, is reportedly being put up for sale. The Center, which is located in the heart of Downtown Crossing here, was sold for $17 million at a foreclosure auction ten years ago and then purchased by the Barket in 1997.

Unconfirmed reports state that the 615,000-sf office and retail complex could get as much as much as $140 million. The Center was a failed mall when the Barkets stepped in and developed 80,000 sf of retail space and 535,000 sf of office space in the floors above. State Street Corp. leases 400,000 sf there while MFS Investment Management leases the remaining 135,000 sf.

Reportedly, there will be strong interest in the property because of the recent rebirth of this area. A new hotel–the Ritz-Carlton–is being developed nearby as well as luxury condominiums. Emerson College is also moving its campus into the area and development is anticipated on an adjacent city-owned parcel.

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