Torrington Properties has closed on the purchase of a boarding house at 29-35 Temple Place for $12 million in downtown Boston. The 6 story boarding house has 48 rooms plus 7,600 square feet of ground floor and lower level retail space. Torrington plans to continue operating the boarding house component and re-lease the ground floor retail space. The building is just steps from the Ritz Carlton and new Millennium Tower with the several mass transport lines close by. Colliers International Boston’s Chris Sower, Jen Price, Jonathan Bryant, and Maggie Collins represented the seller Temple Place Development LLC,
“29-35 Temple Place is a unique and underutilized asset in its current state,” said Chris Sower, senior vice president, Colliers International. “It benefits from being in a location experiencing explosive growth, both on the commercial and residential front, a combination which ultimately made it a prime investment opportunity for Torrington.”
