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Intercontinental in Buying, Selling Spree

BOSTON-Its latest sale, a 190,000-sf office and retail property at 226 Causeway St., is set to close in the next few weeks.

By Beverly Ford | Updated on October 04, 2006

BOSTON-Intercontinental Real Estate Corp. is revamping its portfolio with the acquisition of four apartment properties in Maryland and Virginia and the sale of two office buildings in Boston.

Thomas Taranto, head of asset and portfolio management at locally based Intercontinental, tells GlobeSt.com that the firm has put 226 Causeway St. in the city’s North End on the market and expects to close on the sale of the 190,000-sf office and retail asset within the next few weeks. Taranto says the office portion of the property is about 90% leased although the first floor retail space remains vacant. Intercontinental, which has owned that building for about six years, sold off the residential floors in that property about two years ago, he notes.

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