The Enterprise at SouthofBoston.com - March 23, 2004
A California investment firm paid $38.1 million for the former Reebok headquarters at 100 Technology Drive. Currently occupied by the Stone & Webster engineering firm, the building was built in 1988 to be the headquarters for sneaker-maker Reebok. Stone & Webster's long-term lease of the entire building made it an attractive investment, said Richard Herlihy, senior director of financial services at Cushman & Wakefield of Massachusetts, which handled the transaction.
Herlihy said the building was on the market for a month and his company received 18 offers from real estate investment firms. The winning bid came from Global Innovation Partners LLC, a California-based private equity investment firm that specializes in technology-related property. The $193-per-square-foot selling price is one of the highest in recent years, Herlihy said. Herlihy said Stone & Webster has 10 years left on its lease.
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Tuesday, March 23, 2004
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