Numerous Fort Point Properties Listed for Sale

In case you needed further evidence that Boston's real estate market is on fire these days, a slew of properties was listed for sale in Fort Point recently. That's mainly because Berkeley Investments decided to sell off a large number of high-profile properties from its Fort Point portfolio, which they have owned for more than 10 years.

A little background: In 2004, Berkeley Investments acquired 13 brick-and-beam warehouses, numerous surface parking lots and two parking garages in Fort Point from Boston Wharf Co. for around $100 million. In 2007, it turned around and sold five buildings to National Development for around $74.2 million.

The company now plans to sell several more properties from its portfolio. According to its CFO, however, the plans are still in the earliest marketing stages. The properties up for grabs will include 12 Farnsworth Street, 381 Congress Street, 343 Congress Street and parking garages on Stillings and Farnsworth Streets.

Berkeley Investments is far from the only entity making major transactions in Fort Point. In April, Equity Residential acquired the high-end 315 on A apartment development from Gerding Edlen for $130.3 million. A few months earlier, in January, DivcoWest sold a parking garage on Necco Street for $56 million as well as three office buildings in the neighborhood for $105.6 million.

Will the momentum in Fort Point continue? We here at Boston City Properties believe so. If anything, it will intensify in the months to come. If you are interested in buying or selling properties in Fort Point or other Boston neighborhoods, we can help.

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