Thank you for sharing!

Your article was successfully shared with the contacts you provided.

BOSTON-A quintet of buildings encompassing an entire city block is being put up for sale, industry sources are telling GlobeSt.com. Totaling 150,000 sf of existing space, the assets are headlined by the 101 Tremont St. office building, but the package also reportedly features several properties on Bromfield Street.

“It is on the market,” concurs a source tracking the activity, with Grubb & Ellis, said to be orchestrating the sales process on behalf of Dupont Family Properties of Webster, MA. Calls to G&E were not returned, but industry watchers say the assignment is being handled by brokers Philip Giunta and Karyn McFarland. Efforts to contact Dupont officials by press deadline were unsuccessful.

Despite the silence among those involved, sources insist Dupont is harvesting the buildings after spending the past decade assembling the portfolio. One broker familiar with the buildings describe them as generally “well-maintained,” but said there would likely be some needed capital improvements under new ownership. Besides 101 Tremont St., sources say the buildings being sold include 37-39, 45 and 55 Bromfield St.

As to the potential for a redevelopment of the block, the broker says nearby historic attractions could make it difficult to win height allowances on a tight footprint, although the properties are near the 19-story Nine Zero Hotel, erected earlier this decade. The lack of input about the sale makes it difficult to peg a price, but observers say they believe investors will be attracted to the opportunity. Among the perceived strengths is a location in the heart of Boston’s most vibrant shopping district, one increasingly seeing new uses, such as offices and condos. The area is expected to receive a major boost when Gale International and Vornado Realty Trust complete a 1.2 million-sf expansion of the nearby Filene’s Department Store into a mix of hotel, office, residential and retail space.

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?


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.