Back Bay Office Buildings Put On The Block By Liberty Mutual
Liberty Mutual tapped Newmark Grubb Knight Frank to sell its two Back Bay buildings, 10 St. James Ave and 75 Arlington St. The insurer occupies about 40% of the two buildings' total 825k SF, having moved some of its employees into its new HQ at 157 Berkeley St (pictured). It does not, however, plan to move more out of the Back Bay buildings after the sale, but rather to lease long term from the new owner, the Boston Business Journal reports.
Liberty Mutual originally acquired the 19-story 10 St. James tower and the adjacent 10-story 75 Arlington from Millennium Partners in 2005. Other tenants in the two buildings include The Boston Foundation, law firm Holland & Knight and the Massachusetts Cultural Council. [BBJ]