And so, the transformation begins.
Lots of changes are in store for the JFK/UMass neighborhood. The former Boston Globe Headquarters is being transformed into The BEAT – a multi-tenant innovation park. Right next door a slew of development in the form of residences, retail and more has been proposed and right across the street the old Bayside Expo will be transformed.
On Monday it was announced that 2 Morrissey Boulevard was acquired by a joint venture between Accordia Partners and real estate private equity funds managed by affiliates of Ares Management Corporation. According to Business Wire, the site includes five buildings with a total of 425,000 rentable square feet. The property is fully leased to Santander Bank under a long-term lease.
2 Morrissey is across the street from the 20-acre site of the former Bayside Expo Center. Accordia Partners and Ares Management were selected by the University of Massachusetts earlier this year to develop the Bayside Expo Center site. The property sold for a reported $110 million. No word yet what the property will be developed into.
So brace yourself, lots of changes heading our way!