While Beacon Capital Partners, which owns the 665,000-sf building, declined to comment on the deal because the company "does not comment on potential transactions," sources close to the company tell GlobeSt.com that talks between Beacon and the partnership of Lincoln Property Co. and JE Robert Co. are still on. "Things might be taking longer than usual," says the source, "but the fact is talks are continuing, which is always a good sign." The sales price is said to be nearly $200 million but no one involved with the deal would either confirm or deny that figure.

The property was acquired by Beacon in May of 1998, along with 215 First St., for $195 million. The private REIT had been formed earlier that year after Equity Office purchased Beacon Properties. As evidence of the recently changed climate in the market, 215 First St. sold this summer within a week of going on the market. The 306,000-sf building was snapped up by Capital Properties for $68million.