One Winthrop Square, a 5-story, "jewel-box" style office building in Boston, has been listed for sale by GLL Real Estate Partners. The Munich-based real estate manager purchased the property in 2009 for $21 million, according to a Boston Business Journal article; the current asking price on the property was not disclosed. RREEF bought the building as part of the RREEF America REIT III Inc. fund in 2005. The acquisition, which included 32 properties in Massachusetts, was one of the largest sale transactions in Boston at the time.
"I wouldn't be surprised at $350 per square foot or about $40 million," a local real estate source said.
One Winthrop Square is managed by Grubb & Ellis Management Services on behalf of GLL Real Estate Partners. The original building was constructed in 1873 and renovated in 1990. Many of the building's original features are still visible within the building including exposed brick walls and iron columns.
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