Key facts
- Clarion Partners is selling an office building at One Marina Park Drive in Boston's Seaport.
- The building has 18 stories.
- The sale price is approximately $435 million.
- The transaction reflects a capitalization rate in the low-7% range.
- The office property is nearly fully leased.
- The building is located in Boston's Seaport district.
Clarion Partners is divesting its 18-story office property located at One Marina Park Drive in Boston's Seaport district. The sale is expected to close for around $435 million. This transaction is being evaluated at a capitalization rate in the low-7% range. A key factor contributing to the property's attractiveness and valuation is its near-full occupancy status. The building's leases are substantially in place, providing a stable income stream for a potential new owner. The sale indicates continued investor interest in Boston's commercial real estate sector, especially for assets with strong leasing profiles. The Seaport area, known for its modern infrastructure and accessibility, remains a desirable location for businesses and investors alike. The specific terms of the leases and the identity of the buyer have not been disclosed, but the deal signifies a significant transaction in the current market.