Harbor Corporate Center Sells for $24M

BOSTON-Less than one year after entering the Boston market, New York City-based Brickman Associates has picked up its fifth city property with the $23.8-million acquisition of the Harbor Corporate Center from the Archon Group. The 106,171-sf class A office building is Brickman’s third in the city’s rapidly developing Seaport District.

“We have a lot of high expectations for the overall Seaport office market,” Michael Bernstein, with Brickman, tells GlobeSt.com, referring to the firm’s strong interest in the South Boston waterfront area. “There are a lot of factors fueling a renaissance in that part of the city. Whether its lofts combined with retail combined with office, the federal courthouse and the children’s museum, there’s a focus of energy there.” The JLL team also landed the buyer.

Located in the Fort Point Channel area near Boston’s Financial District and South Station, the six-story Harbor Corporate Center at 300 A St. was built in 1904 and renovated in 2005 to accent the original brick-and-beam construction, expansive window lines and high ceilings. The property, which lies adjacent to the recently completed Boston Convention Center, is 96% occupied by five tenants, including architectural firms Elkus/Manfredi Architects and Bargmann Hendrie.

Scott Jamieson, with Jones Lang LaSalle’s Boston office, assisted the seller along with colleagues Michael Smith, Cappy Daume and Gail McDonough. Jamieson tells GlobeSt.com the offering sparked “tremendous competition” among potential buyers because of its prime Seaport location, strong tenant mix and recent renovations.

The acquisition comes less than a year after Brickman picked up its first Boston holdings at 303 and 330 Congress St., also in the Seaport District, for $23 million. Brickman also added two other office properties at 1 Bowdoin Sq. and 55 Summer St. to its Boston portfolio and is seeking other acquisitions in the Boston, Cambridge and Route 128 markets, Bernstein says.