"We're exploring all our options," Lorraine Marino, the company's marketing director tells GlobeSt.com. "We will continue to try to lease the building while we try to sell it." Marino says that Modern Continental will ask for over $100 million for the 350,000-sf property.
The building had its official opening this past October, a month after the September 11 terror attacks. "Like many other real estate projects, we're feeling the impact of a softening real estate market," Marino notes. The building is currently 25% leased to Regus Business Center and Dwayne Morris, a law firm. Modern Continental's construction business is one of the Big Dig's main contractors.
Cushman and Wakefield, the building's leasing brokers, will handle the sale.
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