BOSTON-After a year on the market, John Hancock Financial Services Inc. is selling its two adjoining properties located in the heart of the city's downtown area to NY-based the Related Cos. LP and locally based Beal Cos. LLP.

The properties include the 61,110 sf 131 Clarendon St. building, which is home to the Hard Rock Café, and an adjacent 18,000 sf parking lot at the corner of Stuart and Clarendon streets. Roy Anderson, a second vice president of public relations at Hancock tells GlobeSt.com that the transaction will close within a year, but terms of the deal are not being disclosed.

Don Hause, senior director at GVA Thompson Doyle Hennessey & Everest, estimates for GlobeSt.com that $30 million is what the properties are worth when their redevelopment potential is taken into account. “[The properties] will generate very good returns,” he says.