0 177 Huntington Ave. Goes Up for Sale

Office building for sale at 177 Huntington Ave in Boston

Photo Credit: The Real Reporter

177 Huntington moves to the sale block from Beacon Capital. The building anchors the First Church of Christ plaza and has become a destination for boutique Class A tenants.

From The Real Reporter:

Acquired under a 99-year ground lease almost four years ago, the 26-story, 206,625-sf building should yield “way over” $700 per sf by one account, possibly eclipsing $725 per sf by other sources.

Observers say they anticipate 177 Huntington Ave. will draw from a wide geography of heavy hitters…One factor likely mitigating the 177 Huntington Ave. mark in that area is the leasehold structure of ownership, a format certain funds are unable to pursue. Either way, it appears Beacon is in line for a hefty return on the asset.

0 Boston Commercial Real Estate: Rife with Office Space Renovations

230 Congress Street office building

Office building at 230 Congress Street

Landlords in Boston continue to make considerable upgrades to their buildings as part of the ongoing courting process for new tenants.  Beacon Capital has continuously made improvements to its Boston assets such as 1 Financial Center, and the newly acquired 230 Congress Street.

Another recent renovation is 177 Huntington Ave., following the departure of Wayfair. A Banker and Tradesman article notes some of the buildings modifications:

“To reposition 177 Huntington for new tenants, Beacon installed new art and signs and LED news strips in the elevator bays. On Monday, Varano Group will open a Caffe Strega breakfast and lunch cafe in the lobby. The owners wanted a name-brand restaurant operator to set the lobby apart, Gratton said.”