Office building near future GE headquarters sells for $119M

Fort Point’s hot real-estate market just got even hotter.

Chicago-based LaSalle Investment Management recently acquired 10-20 Channel Center St. – an office building located less than half a mile from the future headquarters for General Electric Co. – for $118.6 million.

screen-shot-2016-12-28-at-3-47-26-pm

LaSalle closed the deal for the 251,000-square-foot office on Dec. 15. It acquired the office from Callahan Capital Properties, the Chicago-based real estate private equity firm, which itself acquired the property just 17 months ago for $100 million.

“As one of the few fully-renovated brick-and-beam Seaport properties, the property, adjacent to GE’s future global headquarters and within the immediate path of continued densification, is well-positioned to continue attracting strong demand from prospective tenants who are drawn to the Seaport’s vibrancy and character,”  said David Schreiber, managing director of Acquisitions with LaSalle Investment Management.

The surrounding neighborhood has seen high sales and leasing activity this year. GE is firming up plans to develop its 2.5-acre, $200 million headquarter campus. North Carolina tech giant Red Hat Inc. leased its first major Boston office at 300 A St. And last December, New York-based real estate developer Tishman Speyer acquired State Street Corp.’s South Boston office building and nearby Channel Center garage for a combined $316.5 million.

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s