The Davis Cos. Acquires 4 Fort Point Buildings For $56M
The Davis Cos. acquired a four-building office portfolio at Farnsworth and Congress streets, reentering the Fort Point submarket.
The Fort Point portfolio sold for $56M, according to deed records. The Davis Cos. acquired the properties from investment manager Nuveen.
The Real Reporter first reported the deal.
The portfolio consists of 34, 38 and 44 Farnsworth St. as well as 332 Congress St. In total, the buildings encompass roughly 152K SF. The office buildings are 94% leased, according to The Davis Cos.
Nuveen had acquired the properties in 2016 as part of a five-property portfolio sale for $224M.
The 2016 deal also included 263 Summer St. That property was sold independent of the others to Burns Realty & Investments for $17M in 2024. Burns has pivoted to redevelop the property into housing under the city's office-to-residential program.
Tenants at The Davis Cos.' newly acquired four buildings include nonprofit JSI, Customers Bank, software company Skyhook, Odeh Engineers and Elephantine Bakery. In early 2025, JSI, which was locked into a long-term lease at the property, drastically reduced its headcount due to steep cuts in United States Agency for International Development funding.
The sale is The Davis Cos.' first office acquisition in almost a decade and marks its return to the Fort Point neighborhood. In 2015, the firm sold 24 Farnsworth St. and 27-43 Wormwood St. for $24M and $62M, respectively.
The area has seen similar sales recently, including North Colony Asset Management acquiring 10-20 Channel St. for $52M, nearly half of the price LaSalle Investment Management paid for it.
Property records filed Jan. 14 show Davis also sold several properties in Watertown for $16M. The properties are at 10-38 Bridge St., 128 Waltham St. and 114-118 Waltham St.
