The ever so popular mentioning of the Innovation District is once again making headlines. This 1,000-acre area in Bostons Seaport just had $106.7 Million in Real Estate traded. The private Real Estate investment firm known as DivcoWest are the proud new owners of what surmounted to four buildings spread throughout the area which were previously owned by a fund controlled by Brickman Real Estate out of New York.
Now possessing over three million square feet in total Commercial Real Estate, DivcoWest has now added 373,000 square feet to their portfolio. This figure comes from these four buildings with 313 and 330 Congress Street totalling 106,000 square feet, Harbor Corporate Center at 300 A Street also of 106,000 square feet, and 51 Sleeper Street with 150,000 square feet of office space. In a past blog we even mentioned how Bostons Commercial Real Estate performance has far and away exceeded the production of other cities Nationwide of late and is leading the way in a market recovery towards the successful numbers achieved back in 2007. Ultimately this news about the Innovation District is fantastic. It only further shows the commitment of firms to relocate here, redevelop existing property and set this area up for a future that will be buzzing with new technology firms and other prosperous ventures on every corner.
More Information: Boston Business Journal