JLL Capital Markets Group Acknowledges $40M Trade

BOSTON — Two weeks after the $40.0 million sale of One Faneuil Hall Sq. was first unveiled by The Real Reporter, Jones Lang LaSalle has issued a press release officially commenting on the transaction that was orchestrated by its Capital Markets Group. JLL procured the buyer on behalf of the New York City based owners who had paid $22.6 million in August 2005 to acquire the eight-story, 46,000-sf building that is now 100 percent leased.

“One Faneuil Hall Square is a true core, mixed-use asset in an irreplaceable location that offers great upside,” says JLL Managing Director Scott Jamieson in the release, adding, “This purchase gives the new owners an unparalleled opportunity to tap into an extremely high-barrier-to-entry market.” Identified in the JLL missive as a foreign investor, the April 27th Real Reporter article pegged One Faneuil Hall Sq.’s winning suitor as Klaus Dohle of Germany, who had legal backing locally from Bingham McCutchen LLP. Besides being one of downtown Boston’s most distinctive architectural properties thanks to its design by famed architect Graham Gund, the new investor has a cash flowing property that has 91 percent of its space committed into 2023.