55 Seaport Boulevard Update 10/01/17

Boston Global Investors selling Seaport headquarters to Zurich Alternative Asset Management for $23 million


Boston Global Investors will reportedly sell its' newly built 13,500-square-foot headquarters building at 55 Seaport Boulevard in the Seaport District to Zurich Alternative Asset Management for almost $23 million. Per a report by The Real Reporter, the building’s location, combined with its' triple-net leases with a weighted-average lease term of almost 10 years, created intense competition for the building. The sale, which has yet to close, would top $1,700 per square foot, higher than the record $1,027 per square foot Union Investment paid in April 2016 to acquire the 440,000-square-foot 101 Seaport office and retail building in the Seaport District. 101 Seaport's sale price was $452 million; the transaction currently holds the title of most expensive price per square foot sale of a Seaport District office building.


Tenants at 55 Seaport Boulevard include CapitalOne, who has leased the building's 6,375-square-foot retail space for 15 years, and Boston Global Investors, whose headquarters occupies the building's 7,175 square feet of office space. CapitalOne is reportedly paying above $133 per square foot in rent; Boston Global Investors is reportedly on a five-year pact averaging $40 per square foot. Boston Global Investors listed 55 Seaport Boulevard for sale in October 2016 through Newmark Knight Frank. The building was completed in Fall 2016.

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