{"id":1004149931,"date":"2016-08-10T23:55:49","date_gmt":"2016-08-11T07:55:49","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004149931"},"modified":"2020-04-01T08:36:45","modified_gmt":"2020-04-01T16:36:45","slug":"clarion-partners-severs-ties-with-boston-office-assets","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/clarion-partners-severs-ties-with-boston-office-assets\/","title":{"rendered":"Clarion Partners Severs Ties with Boston Office Assets"},"content":{"rendered":"

By Scott Baltic, Contributing Editor<\/p>\n

\"535-545<\/a>

535-545 Boylston St., Boston<\/p><\/div>\n

Boston<\/strong>\u2014For $100.5 million, John Hancock Real Estate<\/a> has bought the two interconnected 13-story office buildings at 535-545 Boylston St., in Boston\u2019s Back Bay area, John Hancock announced Tuesday. The buildings total 184,000 square feet and are home to a diversified roster of tenants.<\/p>\n

The acquisition, according to John Hancock, builds on its commitment to Boston and the Back Bay, where the company currently owns 197 Clarendon and 200 Berkeley and recently announced a $350 million redevelopment<\/a> at 380 Stuart St. The latter project will involve the construction of a Class A office tower on the site of a nine-story building.<\/p>\n

535-545 Boylston is within walking distance of the MBTA Green Line and easily accessible to I-90 (Massachusetts Turnpike), I-93 and Logan International Airport. The buildings were completed in 1967 and 1972 and were completely renovated in 2014, according to data from Yardi Matrix<\/a>.<\/p>\n

The seller was a separate account supervised by Clarion Partners<\/a>, which had purchased the property<\/a> in early 2012. Neither John Hancock nor Clarion Partners would comment further on the transaction.<\/p>\n

NGKF<\/a> marketed the property on behalf of Clarion Partners. NGKF\u2019s Boston Capital Markets team, led by U.S. Head of Capital Markets Robert Griffin, Vice Chairman Edward Maher and Executive Managing Director Matthew Pullen, oversaw the transaction in conjunction with NGKF senior managing directors Jim Brady and Jason Cameron.<\/p>\n

\u201cFirmly situated among the Back Bay\u2019s top Class B assets, 535-545 Boylston Street offers ideally sized, flexible floor plates that can accommodate a wide variety of tenant requirements,\u201d Pullen said in a prepared statement. \u201cConsequently, the property is well suited to benefit from the Back Bay\u2019s rising-rent environment and consistently strong demand.\u201d<\/p>\n

The property is currently 87 percent leased, according to NGKF. Interestingly, at the time that Clarion Partners acquired the property, a Clarion executive told Commercial Property Executive<\/a><\/em> that it was 92 percent occupied and that he expected that figure to rise to\u00a096 percent within several weeks.<\/p>\n

Image courtesy of Yardi Matrix<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

John Hancock Real Estate bought two interconnected office buildings in Boston’s Back Bay for more than $100 million.<\/p>\n","protected":false},"author":882,"featured_media":1004149946,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1490,21743,21808,21783,21742,10,21747],"tags":[],"class_list":["post-1004149931","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-boston","category-deals","category-featured","category-investment","category-latest","category-northeast","category-office"],"acf":[],"yoast_head":"\nClarion Partners Severs Ties with Boston Office Assets - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/clarion-partners-severs-ties-with-boston-office-assets\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Clarion Partners Severs Ties with Boston Office Assets\" \/>\n<meta property=\"og:description\" content=\"John Hancock Real Estate bought two interconnected office buildings in Boston's Back Bay for more than $100 million.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/clarion-partners-severs-ties-with-boston-office-assets\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2016-08-11T07:55:49+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2020-04-01T16:36:45+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/08\/8923.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"640\" \/>\n\t<meta property=\"og:image:height\" content=\"512\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Scott Baltic\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/clarion-partners-severs-ties-with-boston-office-assets\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/clarion-partners-severs-ties-with-boston-office-assets\/\",\"name\":\"Clarion Partners Severs Ties with Boston Office Assets - Commercial Property Executive\",\"isPartOf\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/clarion-partners-severs-ties-with-boston-office-assets\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/clarion-partners-severs-ties-with-boston-office-assets\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/08\/8923.jpg\",\"datePublished\":\"2016-08-11T07:55:49+00:00\",\"dateModified\":\"2020-04-01T16:36:45+00:00\",\"author\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/61ac1450f3ffaa0e850b834c28526555\"},\"breadcrumb\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/clarion-partners-severs-ties-with-boston-office-assets\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.commercialsearch.com\/news\/clarion-partners-severs-ties-with-boston-office-assets\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/clarion-partners-severs-ties-with-boston-office-assets\/#primaryimage\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/08\/8923.jpg\",\"contentUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/08\/8923.jpg\",\"width\":640,\"height\":512},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/clarion-partners-severs-ties-with-boston-office-assets\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.commercialsearch.com\/news\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Clarion Partners Severs Ties with Boston Office Assets\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/\",\"name\":\"Commercial Property Executive\",\"description\":\"\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.commercialsearch.com\/news\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/61ac1450f3ffaa0e850b834c28526555\",\"name\":\"Scott Baltic\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/06\/Scott.jpg?w=96\",\"contentUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/06\/Scott.jpg?w=96\",\"caption\":\"Scott Baltic\"},\"description\":\"Scott Baltic has been a contributing editor with Commercial Property Executive since 2011 and also wrote for its predecessor, Commercial Property News. He started writing about CRE in 1988 for a group of Chicago-based publications and in 1989 became the editor of Midwest Real Estate News. After moving on from there in 1991, Baltic continued writing occasionally about real estate, for publications like the Chicago Sun-Times, National Real Estate Investor, Urban Land, Shopping Center World and Architect\u2019s Newspaper. He earned a master\u2019s in journalism from Northwestern University\u2019s Medill School of Journalism and has a bachelor\u2019s from North Park University.\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/author\/scott-baltic\/\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Clarion Partners Severs Ties with Boston Office Assets - Commercial Property Executive","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.commercialsearch.com\/news\/clarion-partners-severs-ties-with-boston-office-assets\/","og_locale":"en_US","og_type":"article","og_title":"Clarion Partners Severs Ties with Boston Office Assets","og_description":"John Hancock Real Estate bought two interconnected office buildings in Boston's Back Bay for more than $100 million.","og_url":"https:\/\/www.commercialsearch.com\/news\/clarion-partners-severs-ties-with-boston-office-assets\/","og_site_name":"Commercial Property Executive","article_publisher":"https:\/\/www.facebook.com\/CPExecutive","article_published_time":"2016-08-11T07:55:49+00:00","article_modified_time":"2020-04-01T16:36:45+00:00","og_image":[{"width":640,"height":512,"url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/08\/8923.jpg","type":"image\/jpeg"}],"author":"Scott Baltic","twitter_card":"summary_large_image","twitter_creator":"@cpexecutive","twitter_site":"@cpexecutive","schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/www.commercialsearch.com\/news\/clarion-partners-severs-ties-with-boston-office-assets\/","url":"https:\/\/www.commercialsearch.com\/news\/clarion-partners-severs-ties-with-boston-office-assets\/","name":"Clarion Partners Severs Ties with Boston Office Assets - Commercial Property Executive","isPartOf":{"@id":"https:\/\/www.commercialsearch.com\/news\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.commercialsearch.com\/news\/clarion-partners-severs-ties-with-boston-office-assets\/#primaryimage"},"image":{"@id":"https:\/\/www.commercialsearch.com\/news\/clarion-partners-severs-ties-with-boston-office-assets\/#primaryimage"},"thumbnailUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/08\/8923.jpg","datePublished":"2016-08-11T07:55:49+00:00","dateModified":"2020-04-01T16:36:45+00:00","author":{"@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/61ac1450f3ffaa0e850b834c28526555"},"breadcrumb":{"@id":"https:\/\/www.commercialsearch.com\/news\/clarion-partners-severs-ties-with-boston-office-assets\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.commercialsearch.com\/news\/clarion-partners-severs-ties-with-boston-office-assets\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.commercialsearch.com\/news\/clarion-partners-severs-ties-with-boston-office-assets\/#primaryimage","url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/08\/8923.jpg","contentUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/08\/8923.jpg","width":640,"height":512},{"@type":"BreadcrumbList","@id":"https:\/\/www.commercialsearch.com\/news\/clarion-partners-severs-ties-with-boston-office-assets\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.commercialsearch.com\/news\/"},{"@type":"ListItem","position":2,"name":"Clarion Partners Severs Ties with Boston Office Assets"}]},{"@type":"WebSite","@id":"https:\/\/www.commercialsearch.com\/news\/#website","url":"https:\/\/www.commercialsearch.com\/news\/","name":"Commercial Property Executive","description":"","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.commercialsearch.com\/news\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/61ac1450f3ffaa0e850b834c28526555","name":"Scott Baltic","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/image\/","url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/06\/Scott.jpg?w=96","contentUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/06\/Scott.jpg?w=96","caption":"Scott Baltic"},"description":"Scott Baltic has been a contributing editor with Commercial Property Executive since 2011 and also wrote for its predecessor, Commercial Property News. He started writing about CRE in 1988 for a group of Chicago-based publications and in 1989 became the editor of Midwest Real Estate News. After moving on from there in 1991, Baltic continued writing occasionally about real estate, for publications like the Chicago Sun-Times, National Real Estate Investor, Urban Land, Shopping Center World and Architect\u2019s Newspaper. He earned a master\u2019s in journalism from Northwestern University\u2019s Medill School of Journalism and has a bachelor\u2019s from North Park University.","url":"https:\/\/www.commercialsearch.com\/news\/author\/scott-baltic\/"}]}},"jetpack_featured_media_url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/08\/8923.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004149931","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/users\/882"}],"replies":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/comments?post=1004149931"}],"version-history":[{"count":2,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004149931\/revisions"}],"predecessor-version":[{"id":1004406775,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004149931\/revisions\/1004406775"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/media\/1004149946"}],"wp:attachment":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/media?parent=1004149931"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/categories?post=1004149931"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/tags?post=1004149931"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}