New York real estate developer Tishman Speyer has added to its local portfolio with the acquisition of One Channel Center, the 501,650-square-foot office complex developed for State Street Corp. in Boston’s Fort Point.

Tishman Speyer paid $52 million for the 967-space Channel Center garage at 116 W. First St. and $264.5 million for the One Channel Center/1 Iron St. office building in a transaction that closed Monday. Area Management LLC and CV Properties LLC jointly developed the $225 million build-to-suit complex from 2012 to 2014.

State Street Corp. occupied the office space in June 2014 after receiving a $11.5 million tax break from the city of Boston spread over 15 years. State Street’s lease runs through 2029.

“The Boston office market is currently very strong and we believe it will be strong over the long term,” Tishman Speyer CEO Rob Speyer said in a statement. “This is a signature office building that is well situated in what is a vibrant mixed-use neighborhood with a great future. As such, it fits perfectly with our strategic portfolio growth plan in Boston, one of the nation’s great cities, as we look for opportunities to continue developing and acquiring world-class properties to serve the needs of leading companies there.”

Tishman is developing the $500 million Pier 4 office and condo development in the Seaport District in a joint venture with Chinese insurers Ping An and China Life. Its local holdings also include the 1.5 million-square-foot 125 High St. and the 1.1 million-square-foot One Federal St. office towers.