Clarion Partners has sold One Marina Park Drive, a 494,938-square-foot, Tier 1 office tower in Boston’s Seaport District, for $435 million to Oxford Properties.
The sale underscores institutional capital’s appetite for well-located, Tier 1 assets as well as a return of institutional capital to the Boston office market. The transaction is the largest pure-play office sale in Boston in the past five years.
One Marina Park Drive delivered in 2010 as the anchor commercial asset of The Fallon Co.’s $4 billion Fan Pier development. The 18-story tower is 99 percent leased to a high-credit tenant roster. With LEED Gold and WiredScore Platinum certifications, 375 below-grade parking spaces, and floor-to-ceiling harbor views, the asset benefits from barriers to entry in a submarket that has achieved 22 percent Tier 1 rent growth since 2019.
The property occupies one of Boston’s
