CommonWealth Partners pays $450m for Boston office building

CommonWealth Partners has acquired the Pier 4 office building in Boston’s seaport district from developer Tishman Speyer for $450 million.

The 372,372-square-foot property sold for $1,208 per square foot, among the highest prices ever recorded for a Boston office building.

It was recently completed in May 2018. Pier 4 currently serves as the global headquarters for the Boston Consulting Group, educational content and technology services company Cengage Learning, and equity manager Man Numeric.

Tishman Speyer is currently also developing the final phases of the Pier 4 mixed-use project that will include a nine-story, 106-unit boutique condominium project, and a one-acre public park.