CommonWealth Partners bought the Pier 4 office building in Boston’s Seaport District from Tishman Speyer for $450m. The buyer paid a record $1,208 per sq ft for the 372,372 sq ft property. The 13-story building was completed in May. The property is anchored by the Boston Consulting Group which has their global headquarters at the location and also serves as the global headquarters of Cengage Learning and Man Numeric. The office tower stands on the site of the legendary Anthony’s Pier 4 waterfront restaurant, which closed in 2013.
“From the beginning, the Pier 4 site presented Tishman Speyer with a unique opportunity to create Boston’s finest modern mixed-use development,” said Jessica Hughes, managing director of Tishman Speyer’s Boston regional office. “We were able to assemble the finest design and construction team to create a trophy office building worthy of the world-class companies who have chosen to locate their headquarters there. We are pleased to contribute to the built environment and return public access to the waterfront at Pier 4 upon the completion of the Pier 4 Residences and park in 2019.”
