The property includes three existing buildings, which total 541,000 sf, and four buildings currently under construction at 617,000 sf. According to Alex McCallum, spokesperson for Beacon Capital, the locally-based development company will continue to develop the site.
Beacon capital purchased Technology Square as part of a portfolio that included the nearby 475,000 sf Draper Building for $123 million from The Prudential Insurance Company of America. The Draper Building was sold to the Charles Stark Draper Laboratory last April for $72.5 million.
"This is part of Beacon's ongoing business strategy," McCallum explains to GlobeSt.com. Beacon currently has development projects in San Francisco and Seattle.
Continue Reading for Free
Register and gain access to:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
