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Rumors Swirl Around International Place

BOSTON-Unconfirmed rumors report that one of the city's most coveted office towers, International Place, is up for sale. The complex, which has 1.7 million-sf of space, is situated on a pair of adjacent properties in the heart of the financial district here.

By Naomi Grossman | Updated on July 17, 2001

BOSTON-According to rumors floating around this city, International Place, a huge office complex located here in the financial district, is being put up for sale. The complex, which has 1.7 million-sf of space, is situated on a pair of adjacent properties and is one of the city’s most coveted office towers.

Brokers contacted by GlobeSt.com were not able to confirm or deny the rumors but reports claim that the tower has been for sale for a number of weeks. It is unclear what the asking price is, but recent sales of office towers here–such as 1 Federal St., which was just sold for $375 million–ensure that the building will command an impressive price. Unconfirmed reports place the possible sale of the tower at $680 million.Among the factors that make International Place, which was developed by local developers Donald Chiofaro and Ted Oatis, extremely appealing to investors right now, despite an uncertain economy, is its close proximity along the Central Artery, which is going underground as part of the Big Dig.

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