The Financial District in Boston sees another Class B trade; the lucky bidder was TIAA-CREF. Now all eyes move to 50 Congress Street as final bids are due next week.
An article today on The Boston Globe’s website, reporting on the sale of 40 Broad St., notes the larger trend, “prices on high-end commercial properties in Boston have shot up since the end of the recession. In January, the 12-story tower at 11 Beacon St. fetched $34.9 million — just three years after it sold for $16 million. Late last year, the rehabbed 11-story building at 2 Oliver St. went for $52 million. Its previous sale two years earlier was for $10 million.”
Follow the link to read the Globe’s full article on the sale of 40 Broad St.
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