125 Lincoln Street Update
Oxford Properties acquiring Leather District garage for nearly $40 million
Oxford Properties will reportedly acquire the parking garage at 125 Lincoln Street in the Leather District, a 0.64-acre property with significant development potential located steps to South Station, for nearly $40 million. According to The Real Reporter, Oxford has emerged as the winning bidder amongst a number of developers who bid to acquire the garage, brokered for sale by Newmark Grubb Knight Frank and sold by Intercontinental Real Estate Corporation. The sale would amount to nearly $345.95 per existing building square foot and $62.5 million per acre. Intercontinental acquired the garage in August 1996 for $6 million, amounting to $51.89 per existing building square foot and $9.375 million per acre. Oxford has not yet closed on its' acquisition of 125 Lincoln Street.