:focal(0x0:3000x2000)/static.texastribune.org/media/files/89bb79734491725fdae6ec1a77316a0d/0227%20Covenant%20Childrens%20TT%20TT%2001.jpg "Texas leaders quiet amid measles crisis")
BOSTON—A foreclosure auction is scheduled next month for one of Boston’s largest office buildings, One Lincoln Street, Boston Business Journal reported.
“The tower’s owner, Fortis Property Group, has not recovered from the loss of State Street Corp., the building’s one-time namesake,” Boston Business Journal reported. “There was reason for optimism in 2022, when private equity giant HarbourVest Partners signed a 250,000-square-foot lease and Fortis scored a $1 billion refinancing, including more than $200 million for building upgrades and leasing costs.”
According to BBJ, Fortis failed to land another big catch to fill out the 36-story, 1.1-million-square-foot property.
“WeWork, the building’s largest occupant after State Street’s departure, did not help matters by filing for bankruptcy and cutting its footprint from nine floors to three last year,” BBJ reported. “Now, New York-based Fortis is poised to be replaced as owner in an auction scheduled for March 20.”
State Street completed its move to One Congress St. in September 2023, BBJ reported.
Click here ro read the BBJ article.
Related
