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Zurich North America Pays $23.5 Million for 55 Seaport

Boston Global Investors Sells Brand New Boutique HQ Building
November 14, 2017
Zurich North America, a commercial property-casualty insurance provider based in Schaumburg, IL, struck a deal with Boston Global Investors (BGI) to acquire 55 Seaport Blvd. in Boston's Seaport District for $23.5 million, or about $1,740 per square foot.

A locally-based real estate development and consulting firm, BGI completed construction last year on the four-story, 13,500-square-foot office and retail building fully leased to BGI and Capital One. BGI operates its corporate headquarters out of the property, and the location houses Capital One's flagship Seaport location.

The boutique property is situated within Seaport Square, a massive mixed-use project that at 6.3 million square feet represents the largest master-planned development in Boston's history.

Robert Griffin, Edward Maher, Matthew Pullen, Justin Smith, James Tribble, Samantha Hallowell David Martel and Jonathan Martin of Newmark Knight Frank represented BGI in negotiations. Roy Rosenbaum and Sean Bannon of Zurich Alternative Asset Management (ZAAM) led the acquisitions team.

Please refer to CoStar Comp #4055261 for more details on the transaction.
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