JP Morgan Sells 304,000-SF Downtown Building

BOSTON-JP Morgan Fleming sold 73 Tremont St., a 13-story, 304,000-sf building in the financial district, to 73 Tremont Street Realty LLC. Financial details of the deal were not released but a source close to the deal tells GlobeSt.com that the selling price was between $80 and $100 million. Lease rates in the building average approximately $34 per sf.

The building was built in 1895 and renovated in the 1990s. Deb Stevens of GVA Thompson Doyle Hennessey & Stevens represented the buyer in the deal. Stevens tells GlobeSt.com that the building was not on the market but her client saw the building and was interested. After a “long period of time,” says Stevens, the two parties eventually came to an agreement.