News
Beal Keeps On Buying
February 7, 2012
| Beal Companies SVP Stephen Faber says it's hunting for new investments in the Seaport after the success of Seaport Center, an office building purchased 75% vacant, and now 96% occupied. Hear more from Steve at Bisnow's State of the Seaport Summit, March 5 at the World Trade Center. Early bird sign-ups here. | |
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| When Beal and the Rockpoint Group acquired the 460k SF Seaport Center (aka 415 D St) from a lender in '06, the prior owners had considered converting it into a residential building or telecom hotel (that's a building that houses equipment, not a place where only AT&T can get concierge service). But with the economy shifting and new infrastructure already installed, Steve says his team favored office use. Last week, The Boston Herald moved into the last large block of space (52k SF). With the Seaport District undergoing a major transformation, Steve tells us Beal is interested in purchasing ?all parcels that might be available.? | |
