As if the Commercial Real Estate industry in Boston was not performing well enough, which we all know it actually is from our past blog, yet another major transaction has recently taken place. The location of this building is at Two Liberty Square within the Financial District. This lovely part of the city is only a short distance to the Post Office Square, Faneuil Hall Marketplace and the Rose Fitzgerald Kennedy Greenway.
Purchased for $17.5 Million by BNY Mellon Investment Management, a Real Estate investment specialist out of Pennsylvania, this property consists of 64,357-square-feet within 11 storys. The sellers out of Iowa, Warranty of America, a Commercial Real Estate Management and Investment branch of Aegon Asset Management, are also an affiliate of Aegon USA Realty Advisors.
The boutique office building was designed in a Beaux Arts style by Peabody & Stearns and was shortly thereafter constructed in 1913. This large commercial space went through an extensive renovation throughout the 1990s bringing this classic exterior architecture to the preserved, more modern state on the interior that it can be found in today. The property had been on the market since the Fall of 2012 and was estimated to bring in roughly $20 Million at the time of closing.
More Information: Boston Business Journal