Growing Music College Makes $25M Buy

BOSTON-Continuing to jockey for expansion room in the tight Back Bay, the Berklee College of Music has purchased three commercial buildings here for a combined price of $24.7 million. Totaling approximately 75,000 sf of retail and office space, the assets had been under long-term ownership to local investor Arnold Mason.

The buildings “are an important strategic purchase for us,” Berklee VP for real estate William Whitney tells GlobeSt.com. The properties at 155, 159-165 and 167-171 Massachusetts Ave. are “the corner of Main and Main for Berklee’s campus,” notes Whitney. The school already occupies space in 155 Massachusetts Ave. for faculty offices and the ground floor and basement of 167-171 Massachusetts Ave. for student rehearsal studios. There are several commercial tenants in the office space, while the retail includes a Dunkin’ Donuts, Wendy’s and Thai restaurant.

The purchases are not wholly unexpected, according to a member of the Berklee College Task Force. Meg Mainzer-Cohen, president of the Back Bay Association, says the task force was apprised that Berklee is pursuing real estate near its campus at 1140 Boylston St., but says she had not heard of specific properties or what uses are envisioned. And while the scope of the school’s master plan is still being defined, Mainzer-Cohen praises the acquisitions. “In my mind, it’s good news,” she says, adding, “they definitely have community support for purchasing and developing new space.”