The Boston commercial real estate market continues northward with no signs of letting up. 222 Berkeley Street and 500 Boylston Street are set move in a record trade at over $1,150 per square foot.
From the Boston Globe:
The buildings total about 1.3 million square feet in size. A sale for $1.5 billion would put the price at nearly $1,150 per square foot, far higher than the selling prices of other commercial properties in Boston’s key business districts, which rarely top $700 per square foot…The Back Bay buildings are owned by a Blackstone subsidiary, Equity Office Properties, and share an underground parking garage. They are near the Public Garden, the Orange Line and commuter rail trains at Back Bay Station, and dozens of high-end retail shops.