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Leather District Office Property Sells for $68.5M

May 28, 2019 | Reprints | Print

Image courtesy of Google Earth.

A 86,484-square-foot office property in Boston’s Leather District near South Station has been sold to a real estate investment firm for $68.5 million.

Located across Atlantic Avenue from the South Station bus terminal, 711 Atlantic Ave. was bought by Asset Preservation Inc., a California-based 1031 exchange specialist, according to documents filed in the Suffolk Registry of Deeds.

Former owners Meritage Properties – which sold the building to a New York-based limited partnership that appears to be controlled by JP Morgan Chase in 2016 but was retained to manage it – described the building on its website as featuring “brick and beam” office space, a new lobby and recently replaced elevators.

WeWork lists a soon-to-open space at 711 Atlantic Ave. on its website.

B&T Daily