X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

QUINCY, MA-Blue Cross Blue Shield of Massachusetts acquired the seven-story Solomon Willard building, located at One Enterprise Dr., from State Street Corp. for $39.3 million. The company says the deal is the first major step in its long term South Shore real estate plan.

Blue Cross is scheduled to begin occupying the property in the third quarter of 2005 and the new building will house the majority of the company’s business units in the Quincy area.

“Purchasing this facility enables us to keep the majority of our associates in the Quincy area,” says Peter Meade, Blue Cross Blue Shield of Massachusetts’s executive vice president of corporate affairs.

In a statement, Blue Cross Blue Shield of Massachusetts notes that purchasing the facility, rather than leasing it, allows the company to “consolidate expertise across departments because associates will be in one facility, provides savings in property management costs and lowers administrative and operating costs.”

State Street Corp. was represented by John P. Barry and Michael R. Frisoli, partners, and Richard M. Bradbury, vice president of financial services of Richards Barry Joyce & Partners in the transaction. Blue Cross Blue Shield of Massachusetts was represented by Thomas J. Hynes, Jr., president, James L. Elcock, executive vice president, and Kristin E. Blount, vice president of Meredith & Grew.

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
  • 3 free articles* across the ALM subscription network every 30 days
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

Dig Deeper

GlobeSt

Join GlobeSt

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

  • Free unlimited access to GlobeSt.com'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 ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2020 ALM Media Properties, LLC. All Rights Reserved.