The Revitalist

It's old news that the Hancock Tower is for sale , one of 10 buildings that Beacon Capital Partners is unloading. I understand that they are looking for roughly $1 billion for the package. The Hancock has long been my favorite building in Boston – I love the way it so successfully reflects its environment – so I think it is worth every penny.

On top of that, the Boston Business Journal reports that Beacon Capital Partners is also selling its collection of buildings at Channel Center in the Fort Point. The Channel consists of several historic buildings that have been redeveloped and already permitted parcels for new construction. Apparently they have had trouble off-loading one of these buildings in the past and are somewhat dubious about the health of the development. The BBJ says that these sales doesn't mean that Beacon Capital is pulling out of Boston, in fact, they just bought One Beacon Street last week.

Also for sale is the city's largest parking structure at One Congress Street. The garage that holds over 2,000 cars has a prime location next to Haymarket and the Greenway. It has a couple of floors of office space above the garage, but the property also includes significant air rights making it a prime location for the city's next high rise. The Globe article cites Cushman Wakefield as saying that Boston is the country's second most expensive parking market – don't we know it!