American Realty Advisors and Norges Bank Real Estate Management paid $455m in cash for the recently completed 121 Seaport, a 17-story, 400,342 sq ft office tower in Boston. Located in the city’s Seaport district, the LEED Platinum-certified property was developed by Skanska and is fully leased to PTC and Alexion Pharmaceuticals. Amenities include three outdoor terraces, a three-level, below-grade parking garage, a tenant-only fitness center and 24/7 concierge service. Newmark Knight Frank represented Skanska in the transaction.
“121 Seaport’s condensed core facilitates virtually column-free office space with elevated 10-foot ceiling heights and floor-to-ceiling glass, resulting in stunning panoramic views and some of the most efficient floor plates in Boston,” said Edward Maher, vice chairman of NKF.
