Skanska USA buys Seaport District parcel with plans to develop an office building
Skanska USA Commercial Development Inc. said that it has acquired Parcel L1 of Seaport Square in Boston’s Seaport District, with plans to develop a 455,000-square-foot office building on the site.
The seller of Parcel L1, which is located at the corner of Seaport Boulevard and Boston Wharf Road, was Boston Seaport LLC., a partnership between Morgan Stanley and Boston Global Investors.
Skanska USA said it acquired the land and development rights for $33 million and contributed an additional $4.5 million to Seaport Square’s public realm improvements.
The parcel is in a neighborhood that Mayor Thomas M. Menino has rebranded as the “Innovation District.”
In a statement, Skanska USA executive vice president Shawn Hurley said:“The Innovation District is one of the most dynamic submarkets in the country and we are extremely pleased to have acquired Parcel L1, one of the best sites in the heart of Seaport Square. The tremendous investment in public infrastructure in the area combined with recently placed private capital has generated a high level of activity that we believe will continue to foster growth and innovation, attract businesses and draw residents to the Seaport District for many years to come. We look forward to delivering a Class A, highly sustainable, and sophisticated office building in this vibrant district.”Chris Reidy can be reached at email@example.com.