Boston Globe Loses Second Deal For Site Of Dorchester HQ
For the second time since 2015, a potential buyer has walked away from a deal to acquire the Boston Globe’s 16.5-acre Dorchester headquarters.
New York developer Center Court Properties has stepped away from an agreement to purchase the paper’s 815K SF office and printing facility and surrounding Morrissey Boulevard site for close to $80M, the Boston Globe reports. A prior deal with Concord developer Winstanely Enterprises failed in early 2015. The loss will not impact the paper’s decision to move its editorial, advertising, IT and administrative departments in June to a 75K SF office in the Exchange Place tower downtown. The Globe has already been transferring printing operations from the Dorchester facility to a new one in Taunton.
Red Sox owner John Henry acquired the Dorchester property as part of his $70M deal to purchase the Boston Globe in 2013. The local real estate community has speculated a buyer would redevelop the site into a mixed-use development similar to Ink Block at the former site of the Boston Herald in Boston’s South End.