BOSTON — German investor Union Investment Real Estate GmbH has purchased 101 Seaport, a 440,000-square-foot office building in Boston, for $452 million. The seller, Skanska, developed the building, which it also uses as its Boston headquarters.
Skanska broke ground on the LEED-Platinum project less than three years ago. At the time, it was Seaport Square’s first office tower. PricewaterhouseCoopers and Red Thread/Steelcase also use the building as New England headquarters.
The office building includes an on-site fitness center. It is situated within walking distance of Q-Park, Seaport Square Green and the Harbor Walk, a pedestrian promenade in the city’s Seaport district.
The office building is one of Skanska’s three Seaport Boulevard developments. The company is also building 121 Seaport, a neighboring office tower with ground-floor retail, and recently completed Watermark Seaport, a luxury residential tower with ground-floor retail that Skanska developed with Twining Properties.
Newmark Grubb Knight Frank’s Robert Griffin Jr., Edward Maher and Matthew Pullen represented Skanska in the transaction. The firm’s Bill Anderson and David Martel represented the company on the leases as well.
This is Union Investment’s third recent acquisition in Boston.
“After the acquisition of the Godfrey Hotel and the Converse Headquarters at Lovejoy Wharf, we are pleased to have strengthened our foothold in the important and economically very stable gateway market of Boston with the acquisition of this trophy building at 101 Seaport Boulevard,” says Tal Peri, head of U.S. East Coast and Latin America at Union Investment.
New York-based Skanska USA is a development and construction company specializing in transportation, power, industrial, water/wastewater, healthcare, education, sports, data centers, government, aviation and commercial projects.
Union Investment provides real estate services for private and institutional asset allocation. The company maintains 20 real estate funds across 24 national markets.
— Nellie Day