NY Life Snaps Up One Bowdoin Square
New York Life Real Estate Investors acquired the 11-story boutique office property at One Bowdoin Square in Boston for $61.8M. The Square has a long history; it's pictured here on an 1883 map of Boston, while One Bowdoin Square has only been around since 1972 (and rehabbed in '89). The property last sold in 2006 to Brickman Associates for $41M, the Boston Business Journal reports.
The 133k SF property is 91% occupied, anchored by Mass General and the GSA. “With significant capital budgeted to maintain and upgrade the property, One Bowdoin Square will be well positioned to take advantage of the increasing demand from companies seeking high-quality office space in a transit-oriented location within Boston,” the investor noted in a statement. [BBJ]