The Boston Globe announced that it is selling its 16.5 acres of offices in Dorchester, which currently serves as their headquarters, to move back to downtown Boston. According to a Boston Magazine report, New York-based Center Court Properties will pay $80 million for the 815,000-square foot facility. An earlier deal for the site with Winstanley Enterprises, a Concord development firm, fell through in February. Boston Globe Media Partners (BGMP) chief executive Mike Sheehan said that the company will move its editorial and business operations to the second and third floors of the Exchange Place complex at 53 State St. on Jan. 1, 2017. Terms and representation were not disclosed, but BGMP announced in 2014 that it had hired Colliers International to negotiate the sale and transition for the press giant.
"We believe, first and foremost, that there is a bright, shining future for high-quality journalism in the region," Sheehan said in an interview. "We're moving people to where they will be closer to the stories and where they can access the stories on foot. That sends an important message."
The 3-story property at 135 William T Morrissey Boulevard currently houses all of the paper's editorial, advertising and administrative departments, along with all of its production facilities and ample parking. The site is located not far from the University of Massachusetts at Boston and the John F. Kennedy Presidential Library and Museum, with visibility to commuters on the Southeast Expressway and a short walk to the Red Line.
A city master plan for Columbia Point has identified the Globe as a prime parcel for mixed-use redevelopment— a plan endorsed by Mayor Marty Walsh. "If it is tasteful and done right, mixed-use on that site would be important with a component of housing and a component of economic development, whether it's an office building or retail park," said Walsh.
For more news and information visit Blumberg Partners.
No comments:
Post a Comment