Creative Office Building in Boston Commands $46M

In a deal brokered by JLL, Brookfield Properties sold the Clarence H. Blackall-designed historic building.
15 Broad Street. Image courtesy of JLL

TA Realty has acquired 15 Broad Street, a 77,678-square-foot creative office in downtown Boston, for $46.1 million. Yardi Matrix identified the seller as Brookfield Properties.

The 10-story property includes 2,500 square feet of street-level retail and shares an arcade with the adjacent 75 State St. Completed in 1910, the property was formerly known as the Marshall Building. Clarence H. Blackall⁠—which designed iconic Boston assets such as The Wilbur and The Colonial Theaters and Copley Plaza Hotel—was the architect.

Located alongside Fairlane Park, the property is within walking distance of Post Office Square, Rowes Wharf and Faneuil Hall. Additionally, major transportation hubs such as North Station and South Station are less than a mile away.

A JLL Capital Markets team of Coleman Benedict, Lauren O’Neil, Matthew Sherry, Kerry Hawkins and Ben Sayles represented the seller in the transaction. Last November, the same team brokered the sale of a nearby Lockheed Martin facility.

According to Yardi Matrix, the property previously traded in 2016 for $32.5 million, when Brookfield Properties acquired it from Broder Properties.