Oxford Properties Makes $435M Boston Office Buy
The waterfront asset last sold in 2019.
Oxford Properties has acquired One Marina Park Drive, a 494,938-square-foot office tower in Boston’s Seaport District, for $435 million. Clarion Partners sold the property in a deal arranged by JLL.
One Marina Park Drive was completed in 2010 as the anchor commercial asset of The Fallon Co.’s $4 billion Fan Pier development. The 18-story tower is 99 percent leased and features LEED Gold and WiredScore Platinum certifications, 375 below-grade parking spaces and floor-to-ceiling harbor views.
The property occupies one of Boston’s last direct waterfront sites within Fan Pier, adjacent to Vertex Pharmaceuticals’ 1.1 million-square-foot global headquarters.
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One Marina Park Drive is within two blocks of more than 35 dining options, 1,200 luxury housing units and 50 retail stores. It’s also within walking distance of South Station, providing Red Line MBTA and commuter rail service to the Greater Boston area. MBTA Commuter Ferry access at Rowes Wharf is also nearby.
One Marina Park Drive last traded in December 2019, when a Clarion Partners affiliate purchased the building for $482 million from a joint venture of The Fallon Co. and Barings.
JLL’s Capital Markets Investment Sales and Advisory team representing the seller was led by Executive Managing Directors Coleman Benedict and Riaz Cassum, Managing Directors Scott Carpenter and Patrick Shields, Associate Chris Barry and Analyst David Mega.
Strong office activity in Boston
Another major deal in the neighborhood came in August 2025, when the Vertex Pharmaceuticals headquarters was refinanced. A joint venture of The RMR Group, Diversified Healthcare Trust and private institutional investors secured a $1 billion, five-year, fixed-rate note at 5.59 percent interest, provided by a consortium of Morgan Stanley, Bank of Montreal, Goldman Sachs and J.P. Morgan.
The Boston metro’s office market recorded about 242,000 square feet of net absorption in the second quarter of 2026, marking the second-highest quarterly figure in the past four years, according to a recent report from JLL. Leasing activity was driven predominantly by renewals, secondarily by relocations within the region.
Overall office vacancy across the metro was 23.6 percent, and all of the 894,000 square feet of office space under development is preleased.
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