Kenmore Square North Update 07/20/16

Related Beal reportedly acquiring Boston University's Kenmore Square building portfolio, home of Citgo Sign


The Real Reporter reports that developer Related Beal will acquire Boston University's nine-building Kenmore Square portfolio, home of the famous Citgo Sign. The buildings are reportedly being sold for upwards of $145 million and could approach a price of $150 million. The nine buildings total 335,000 square feet and are located at 642-650 Beacon Street, 533-541 Commonwealth Avenue and 11-19 Deerfield Street. The buildings are home to existing retail tenants including Barnes & Noble, Bertucci’s Restaurant and Cornwall’s Pub.


Related Beal is currently building Parcel 1B and 131 Beverly (Lovejoy Wharf) in Bulfinch Triangle and acquired the John Jeffries House hotel in Beacon Hill last week for $25 million. The hotel is located next to a parking garage Related Beal acquired in July 2015 for $40 million.

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