News: Front Section
Posted: November 23, 2018
GLL Real Estate sells 200 State St. to Carr Properties for $222 million - Maher, Pullen and Tribble of NKF represent seller
Boston, MA Newmark Knight Frank (NKF) completed the sale of 200 State St. to Carr Properties for $222 million. On behalf of GLL Real Estate Partners, vice chairman Edward Maher, executive managing director Matthew Pullen and director James Tribble of NKF’s Boston Capital Markets team, which is led by co-head of U.S. Capital Markets Robert Griffin, oversaw the transaction of the 304,178 s/f office condominium and associated 120-space parking garage.
200 State St. is 96% leased to a 21-tenant roster anchored by Beacon Health Options, TD Bank, FTI Consulting, Beacon Capital Partners and TIFF Investment Management. The institutional-quality asset benefits from significant base building and tenant improvements completed throughout the past 10 years.
“200 State St.’s compact building core facilitates highly efficient, flexible floor plates averaging 20,000 s/f in size,” said Pullen. “Combined with its prestigious State St. address and panoramic city and Boston Harbor views, the asset is uniquely able to accommodate a variety of modern tenant requirements.”
The property features on-site access to the MBTA Blue Line and is located within a five-minute walk of the MBTA commuter ferry at Rowes Wharf. The asset is also positioned between South Station and North Station, the city’s primary transit hubs. Finally, I-93 and 90 (Mass. Pike) are accessible from the on-site parking garage.
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