Office Sold in Boston’s Financial District
- Jun 29, 2016
By Bogdan Odagescu, Associate Editor
Boston—JLL arranged the sale of Four Liberty Square, a 7-story, 26,000-square-foot pre-war office and retail property sitting in the heart of Boston’s Financial District.
The JLL Capital Markets team represented the seller, an affiliate of Abramson Brothers. The buyer, an affiliate of Atlas Real Estate Partners, shelled out approximately $12.3 million for the downtown asset. According to Property Shark, Four Liberty Square was built in 1899, last saw alterations in 2003, and most recently changed hands in 2014, for $8.8 million.
“Boston’s Class B office product has seen a clear increase in tenant demand… Thanks to the refreshed demand, Class B is now exhibiting healthier fundamentals than its Class A counterpart. Four Liberty Square in particular, currently 100 percent leased to six tenants, delivers stable near term cash flow and offers an immediate opportunity to increase rents in 2016,” said Frank Petz, managing director with JLL, in a prepared statement.
Within a few hundred feet from Post Office Square, State Street, Quincy Market, Congress Street and Downtown Crossing, Four Liberty Square is located right in the middle of downtown Boston’s booming office market. Thus, the asset benefits from immediate access to a great variety of retail and dining options, as well as efficient commuter access and major nearby roadways.
Images courtesy of nordicproperties.com